Businesses may be forced to raise consumer prices amid continued surge in costs
With price hikes in food ingredients, labour and freight among other things, companies can't hold back much longer despite subdued demand
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Singapore
SUBDUED sentiment has kept retailers as well as food and beverage (F&B) players reluctant to raise prices, but this might change if mounting cost pressures do not ease, firms told The Business Times.
Food ingredients, labour and freight are major areas where firms are feeling the sting, with freight costs in particular having multiplied amid a global cargo crunch.
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