You are 100% correct. The actual market response in this case is "prices set to FALL in respose to retail slump".
Our media is economically illiterate (or paid to print this crap).
this post was submitted on 07 Jul 2023
25 points (100.0% liked)
Aotearoa / New Zealand
1656 readers
38 users here now
Kia ora and welcome to !newzealand, a place to share and discuss anything about Aotearoa in general
- For politics , please use !politics@lemmy.nz
- Shitposts, circlejerks, memes, and non-NZ topics belong in !offtopic@lemmy.nz
- If you need help using Lemmy.nz, go to !support@lemmy.nz
- NZ regional and special interest communities
Rules:
FAQ ~ NZ Community List ~ Join Matrix chatroom
Banner image by Bernard Spragg
Got an idea for next month's banner?
founded 1 year ago
MODERATORS
Pretty sure it's the latter
I agree
Let alone the bullshit credit card charges everyone is charging these days. Especially as The Retail Payment System Act 2022 is now in force capping the price retailers pay to 0.8%
If it's capped, how do places like PBTech get away with charging 1-3%? Genuinely curious.
As I understand it, the fee is a cap on how much the payment processer can charge the bank. The amount the bank charges the retailer and the amount the retailer charges the customer are not capped.
This is based on this page: https://comcom.govt.nz/regulated-industries/retail-payment-system
Thank you that makes more sense. Even if it is asinine.
As long as they don't claim it's to cover the costs from credit cards (in that case they can only charge the actual costs) they can add whatever surcharge they want
At least they offer online eftpos now. So much better than using poli or bank transfer.
What the fuck is going on here? It’s almost impossible to have a budget when doing groceries anymore.
Yay for wage price spiral
Not because of wage price rises. Its more because investors want to be paid more. The constant "businesses must make more profit year over year"
There are plenty of people out there getting rises far below inflation.