Harvey Norman left with ‘no choice’ but to raise prices on some consumer goods

Harvey Norman chairman Gerry Harvey says retailers have been with left with “no choice” but to raise prices for consumer electronics, bedding, homewares and white goods.

It comes as inflationary pressures hit several sectors.

Mr Harvey told Tom Elliott it was a simple case of supply and demand.

“If a guy down the road drops the price, we drop the price,” he said.

“If we drop the price, they drop the price.

“But if it’s costing you all 10 per cent more than it was yesterday, they’re all going to put up their prices (because) they’ve got no choice.”

Press PLAY below to hear him explain why prices are going up

(Photo by Mark Evans/Getty Images)