New Zealand Electronic, Appliance Prices Set to Rise May 26, 2004

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According to the Dominion Post, New Zealand consumers will face higher prices for refrigerators, DVD players, and video recorders because of a falling currency and rising costs.

Prices are likely to rise by as much as 15 percent, said John Lamerton, general manager of sales at LV Martin Ltd., a New Zealand retailer, according to the newspaper. He expects prices to be higher by July or August. The New Zealand dollar this month fell to its lowest level in 7 months.

Pacific Retail Group Ltd. is also expecting higher prices for appliances and computers, the newspaper said, citing John Milford, chief executive of the company's appliances unit.

Sony Corp. told New Zealand customers that the price of broadcast and professional camera equipment will rise 12 percent on June 1, according to the newspaper. (Bloomberg)

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