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Speaker 1: Talk here, of course already as prices given a lot

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Speaker 1: of the things we buy has a petrol component to them.

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Speaker 1: As oil rises, so does the cost of living. Basically,

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Speaker 1: Caroen the Young is retail in New Zealand CEO, and

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Speaker 1: she is well, this morning's are.

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Speaker 2: You Morina, Mike?

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Speaker 1: Is it a little bit premature given we're barely entering

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Speaker 1: week two or are you already seeing prices move?

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Speaker 2: Well, we are seeing prices move just yet, but they're

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Speaker 2: not far away. When you consider the price of fuel

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Speaker 2: going up. We also know that suppliers have indicated already

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Speaker 2: to a number of retailers that prices are rising, and

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Speaker 2: retailers are doing what they can to absorb those. But

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Speaker 2: as soon as domestic phrase is impacted, you know, as

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Speaker 2: goods are distributed across the country, that's an additional cost

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Speaker 2: that's going to go in there. And if new freighter

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Speaker 2: arrives in on higher ship and charges, it's more costs

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Speaker 2: that are going to come in there. So you know,

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Speaker 2: they're forecasting it could be you know, as high as

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Speaker 2: half of the cent on inflation. So certainly we'll see

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Speaker 2: some increases in prices.

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Speaker 1: How do you know continue sure, How do you know

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Speaker 1: it's real versus someone gouging and just trying it on.

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Speaker 2: Well, I think you need to if you have any concerns,

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Speaker 2: you'd need to ask three tail what's driving the price

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Speaker 2: changes and understand from them you know where that is.

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Speaker 2: I mean, if you're looking at consumption sort of, if

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Speaker 2: you're thinking about supermarkets and products that come in through

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Speaker 2: there are flowing through really quickly and regularly, they're likely

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Speaker 2: to hit quicker. You know, the fuel prices that the

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Speaker 2: pump are going up quite quickly, right, so as soon

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Speaker 2: as new products come in, they're going to be fixed

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Speaker 2: on those prices. We're going to see rises. But in

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Speaker 2: places like appail, you wouldn't see significant increases other than

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Speaker 2: the cost of freight potentially on those products, because you

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Speaker 2: know they may already be in the country. As such, if.

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Speaker 1: This thing lasts three or four weeks, in other words,

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Speaker 1: another two or three weeks to go by the time

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Speaker 1: we get to October November, will this have been just

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Speaker 1: a blip and will have had minimal impact.

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Speaker 2: We'd like to think, so absolutely.

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Speaker 1: All right to talk to you. Appreciate it very much. Carolyn Young,

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Speaker 1: Retail New Zealand CEOs. For more from the Mic Asking Breakfast.

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Speaker 1: Listen live to news talks at B from six am weekdays,

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