Wage Rises Absorbed by Retailers
WELLIX GTON, August 8. The Price Tribunal announced today that following discussions with the Xew Zealand Retailers' Federation, the. margins of proiit for the retail distribution in respect of furniture and upholstery, liearth furniture, bedding and floor coverings, drapery, mereery and pieee goods and men's and women 's elothing, had been reduced. The reductions in margins had been negotiated by the Price Control Division in furtheranee of the Price Tribunal 's oxpressed policy of requiring that where possible any price increases granted to manufacturers to cover the general wage increases from .Tune 3, 1040, should be absorbed by the distributive trades and not jiassed on into the final eonsumer price. The effect of the present reductions is that, with ininor exception, current couSumer priees for furniture, draperv and men's and womeij 's elothing will not be increascd liecause of the general wage increases granted from .Tune 1, 1049, and that in respect of importod finished goods of- the classes mentioned, there will be further price reductions.
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Chronicle (Levin), 9 August 1949, Page 5
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171Wage Rises Absorbed by Retailers Chronicle (Levin), 9 August 1949, Page 5
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