Economist Predicts Higher Prices At South Shore Retailers

Stagnant wage and employment growth combined with higher energy costs and a weak dollar will result in higher retail prices this year at South Shore retail stores and those elsewhere in the country. That prediction from the Chief Ecomist at CIBC. Avery Shenfeld says little's changing for lower wage earners. However, high-paid workers are receiving steep increases in their salaries and its all reflected in what both sides are buying.



Shenfield predicts inflation will climb to 2 percent this year, there will be a slight increase in interest rates and the Canadian dollar will remain lower.