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Weak pa'anga pushes prices up, pulls sales down [1]

Nuku‘alofa, Tonga

Sunday, March 30, 2003 - 10:09.  Updated on Friday, February 19, 2016 - 15:48.

From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

Local traders and consumers are concerned about the increasing cost of goods.

Chris Mafi, Manager of the Kinikinilau Shopping Centre, said the weak pa‘anga was forcing them to increase the price of their goods so they could meet the cost of the imports. “It is costing us more than ever to import due to the depreciation of the value of our pa‘anga against the New Zealand and Australia dollars, our main suppliers,” said Chris.  “What results is a fall in the sales of our products.”

A regular buyer of consumer goods is restaurateur Irene Mo‘ungaloa, owner of the popular Good Samaritan Inn, who said that the increasing inflation rate meant that she was getting less for her money.

Irene spends not less than $3000 on her weekly shopping, and now it gives her a headache because goods are getting more expensive.“I can always increase the price on my meals, but let’s face it, this is Tonga—if I do decide to raise my prices obviously I will loose customers”, said Irene.
 

Tonga [2]
2003 [3]
Kinikinilau Shopping Centre [4]
Chris Mafi [5]
Business [6]

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Source URL:https://matangitonga.to/2003/03/30/weak-paanga-pushes-prices-pulls-sales-down

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[1] https://matangitonga.to/2003/03/30/weak-paanga-pushes-prices-pulls-sales-down [2] https://matangitonga.to/tag/tonga?page=1 [3] https://matangitonga.to/tag/2003?page=1 [4] https://matangitonga.to/tag/kinikinilau-shopping-centre?page=1 [5] https://matangitonga.to/tag/chris-mafi?page=1 [6] https://matangitonga.to/topic/business?page=1