HEL. to Soar if Exchange Drops Prices Should Not Go Up If Local Dollar Does Not Decline Further Any further decline in the value of the local dollar wóuld result in an increase in the prices of foodstuffs and commodities, an official of the price investigation office of the Municipal Council stated yesterday, when asked what effect the recent drop in exchange would have on the cost of living here.
The official pointed out that up to now there has been no request by dealers to increase prices of- their commodities, following the recent decline of the Chinese dollar. He did not view the situation with undue optimism, however, pointing out that the drop in exchange was bound to make its effects felt. If the local dollar should maintain its present standard for a week of least, he would not apprehend any increase in the prices of staples and essential commodities.
There has been no serious adjustment in prices recently, the official disclosed, adding that the Council was" expecting a request at any moment from purveyors of foodstuffs for an increase in prices. While not disposed to accede to any requests for án increase in the price of commodities, he explained, the Council would be bound to do justice to the applicants, for obvious reasons. It would be futile for the Council to expect ce-operation from the establishmentsrtoncerned, he pointed out, if they had to operate at a loss or with no profit
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