Shoppers wanting a bargain on home whiteware and electronics are being warned to buy now or pay up to a quarter more in the new year as the lower dollar hits imports.
Suppliers have told retailers of fridges, televisions, microwave ovens and other items prices will rise between
10 and 25 per cent in January.
And while retailers plan to absorb some of the cost, they warn rock-bottom prices for imports are almost at an end.
BDT managing director Ken Lilley - whose company supplies retailers including Harvey Norman, Noel Leeming and Smiths City - said prices would rise between 10 and 20 per cent on most items.
Mr Lilley has already marked up fridges by 20 per cent for the first quarter of next year. A $1000 fridge will cost about $1300, and a $4000 fridge close to $6000, he said. "Only the market can determine if they will sell at those prices. But that's what we have to list them at."
Noel Leeming Group chief executive Andrew Dutkiewicz, whose company also owns Bond and Bond, said he had been told prices would go up between 10 and 20 per cent. "We'll do everything we can to cushion the impact on consumers but it will flow through."
Smiths City Group managing director Rick Hellings said price rises would be staggered as retailers ran out of stock bought at the old price. The actual increase would depend on the exchange rate but "the general feeling is somewhere between 15 and 25 per cent", he said.
Mr Hellings and Mr Lilley said shoppers who wanted new appliances and electronics should buy before Christmas. "To be honest I believe that prices are never going to be down to the level that we've got now," said Mr Hellings.
Since its peak on March 13, the New Zealand dollar has fallen 36 per cent against the US dollar and 39 per cent against the yen.
But Mr Dutkiewicz said imports would still be cheaper than a year ago.
"If you look at a 42-inch plasma TV, it was $2000 12 months ago and now it's $1400. Even with a 20 per cent increase - assuming it is 20 per cent - it's only going to go up to $1700."
