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BREXIT NERVES

Unprepared British consumers face price squeeze

With the pound weaker now, retailers will need to decide whether to pass on their higher costs to shoppers
Wednesday, October 5, 2016 - 05:50
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Apple has already raised the sterling price of its iPhone 7. Among retailers, Associated British Foods says it will absorb the higher cost of imports; fashion chain Next says it will pass on costs to shoppers.

London

BRITISH shoppers tempted by Apple's new iPhone are having to dig deeper into their pockets in these post-Brexit-vote days: the US tech giant raised the sterling price of the smartphone by 60 pounds (S$105) when the model went on sale in mid- September.

While US customers