Consumers should brace for price hikes as businesses report cost pressures start to bite. Businesses were juggling a number of price pressures, he said, and they were not just related to supply shortages and soaring freight costs. GERARD HUTCHING/Stuff Milk prices are tipped to rise after a strong lift in global dairy prices. One food staple that could rise later this year is milk, reflecting a strong lift in commodity dairy prices. Steel and Tube, a distributor of steel products, said '’it was certainly an inflationary environment'’ and it was having to pass costs on.

Source: Stuff February 05, 2021 00:31 UTC