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<Commodity>LegCo Member: Retailers Yet to Pass on Rising Oil Costs to Consumers; Product Prices Expected to Gradually Hike
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Legislative Council member for the Wholesale and Retail sector, Shiu Ka-fai, stated on a radio program that no retailers have indicated plans to pass on the rising oil costs to consumers for the time being, because importers typically arrange for two to three months of inventory, and the goods currently on sale were imported earlier. Whether prices will increase in the future hinges on the continuation of the Middle East conflict, Shiu said. Although retailers may not wish to raise prices immediately in the current economic environment, increased transportation costs mean businesses cannot sustain losses indefinitely. He believed that prices of various products will ascend progressively. AASTOCKS Financial News Website: www.aastocks.com |
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