More than half of retailers expect to increase prices by 7.5 per cent over the next three months

A Stuff article.

The retail sector is looking to increase prices as it’s hit by more supply chain issues, a retail report has found.

Retail NZ released a quarterly report on Friday, which showed 57 per cent of retailers increased prices in the last three months of 2021.

“Inflation is having a significant impact on the retail sector,” Retail NZ chief executive Greg Harford said.

Inflation – measured by the price of common goods and services like transport, food, and rent – grew nearly 6 per cent in the 12 months to December 2021, and is now at its highest level since 1990.

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