Quote:
Originally Posted by diebitter
So you are getting 20% less for the same money?
Of course you're not. More hyperbolic project fear nonsense you feel compelled to parrot.
I'm sure some of you remainers embrace bad news like some medieval supplicant revels in wearing a cilice. You like the suggested damage over the reality. You revel in the self-inflicted fears of the future.
Now you understand the business of retailing better than the ex-boss of Sainsburys and chairman of BT?
Price rises coming
"British shoppers should brace themselves for higher prices following the steep fall in the pound since the Brexit vote, the former boss of Sainsbury’s has said.
Justin King said supermarkets would be unable to absorb the recent rise in the cost of importing goods caused by the falling value of the pound against the dollar and euro. Instead, said King, they would soon pass on the costs to consumers in higher prices.
Mike Rake, the chairman of BT, speaking at the same conference as King in London on Wednesday, said imported mobile phones and broadband home hubs were already 10% more expensive and the cost would have to be passed on to consumers in the near future."
When the post-Brexit hedges that retailers had taken start expiring early this year, prices of imported goods will rise significantly.