SYDNEY: Consumers in the market for a new television, fridge or other household items are urged to get shopping now, with warnings prices may soon rise due to the Aussie dollar’s tumble.
The Australian Dollar has fallen 21 percent against the US greenback and is 11 percent down against Korea’s Won and six percent down against the Euro and Yen.
Experts are warning this slide could trigger a price hike among manufacturers.
“Normally around every 10 cents that the dollar moves, we notice our suppliers that we do buy from in Australian dollars will move their price,” Winning Appliances’ John Winning said.
This could spell bad news for consumer prices – but there could be worse still to come.
Westpac has warned the dollar could fall as low as 68 US cents (it now sits at 73 US cents) before slowly rising again.
