Greed kicking in ?

[susiesusie]

How can Mr pound go from 17 yesterday to 22today.
Must have run out of stock and got the new stuff in then !!

[Chriswright03]

I guess they see the way it is going and change their prices accordingly. If they were to change their prices every time the tl changes then they would have no time for normal work.

Yes it is greed on some shops or retailers without a doubt and yet some have had their rices the same for ages. I know some are set by Government but not which ones. As an example we have been paying 5tl for the large bottles of water locally for ages now, I would say well over a year and often commented on our surprise that it had not risen in all that time. Today at last it has gone up to 6tl.

I think it is obvious that prices will go up but sadly I also think it is doubtful that the employees will benefit from the rise in prices by seeing more in their pay each week,

[yucatan]

In most supper markets prices within 48 hrs have risen by at least 25% plus on old stock

[jofra]

What needs to be considered is that the shopowner has to replenish his stock - if the price that HE PAYS has greatly increased, then he MUST sell - at a similarly increased price - what he has already bought , so that he is able to replenish at greatly increased prices to him.
Not really a matter of choice; merely a matter of survival...

[alphamike]

In most supper markets prices within 48 hrs have risen by at least 25% plus on old stock

I can see why Mr Pound has gone up, as it was never equivalent of £1, more like Mr £1.50.
Box of dog biscuits 39.90TL on Monday, today 62.50TL in one of the supermarkets in Catalkoy. Glad I got them on Monday, just checked out of nosiness today. Think it will be home made dog treats from now on.

[forestpixie]

What needs to be considered is that the shopowner has to replenish his stock - if the price that HE PAYS has greatly increased, then he MUST sell - at a similarly increased price - what he has already bought , so that he is able to replenish at greatly increased prices to him.
Not really a matter of choice; merely a matter of survival...

We were talking to a restaurant owner today, rent in £ so pretty much doubled. Chicken doubled in price, oil doubled in price. Efes order if you don't buy today then next time it will be more. If I heard correctly 5% of card payments go to govt 3% to bank. Losing battle really and then people complain their meal has gone up 10 or 20tl. I earn TL and feel sorry for anyone trying to run a business in these hard times.

[erol]

What needs to be considered is that the shopowner has to replenish his stock - if the price that HE PAYS has greatly increased, then he MUST sell - at a similarly increased price - what he has already bought , so that he is able to replenish at greatly increased prices to him.
Not really a matter of choice; merely a matter of survival...

Exactly. For a retailer their stock is their capital. They can not afford to see their capital reduce just so their customers can get a bargain. It just does not work that way. The idea that they bought at a cheap price therefore they should sell it at that price is a flawed notion (imho). They have to sell current stock at a price that allows them to restock to the same level. If they do not they will end up with no stock at all.

[jofra]

At the same time, in the UK-
"Garages have been accused of failing to pass on fuel price savings to drivers.
The AA says the reason is a “slump in supermarket fuel price competition”.
It found the average UK price for petrol had fallen by just 1.5p a litre from a record high in the past two weeks. Over the same time, it says wholesale costs dropped by 10p a litre.
Supermarkets are often the cheapest place to buy fuel because of their scale.
But the AA found the gap between supermarkets and the UK average was 2.2p a litre. In May 2020, it was 6.3p."
In this example, the "shop owner" (retailer) is replenishing his stock at a LOWER price (to him), so is irrefutably profiteering...
(I just wish the prices in the UK were the same as in TRNC...)