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BRC: Govt must avoid pressuring prices
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The government should avoid putting increased pressure on prices, one expert has said.
According to the British Retail Consortium (BRC), the government needs to be careful not to implement measures that could force retailers to increase prices as the cost of living soars.
Spokesman for the BRC, Richard Dodd, said the government needs to bear in mind any new tax increases will directly affect consumers by pushing up prices.
"Retailers are battling to absorb cost increases and keep down prices for customers and the last thing retailers or customers need is for government to be wading in and putting increased upward pressure on prices," he added.
The latest Bank of England inflation attitude survey shows consumer confidence is currently very low and those polled believed the current level of inflation is 4.9 per cent.
By a ratio of 70 per cent to five per cent, respondents believe the economy will end up weaker rather than stronger if prices start to rise faster.
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Created on 18/06/2008 12:15:04
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