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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

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.


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

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