Retailers Used Euro Introduction for Increases, BAG Says

Some retailers did hike prices during the euro-cash introduction, said Johann Hellwege, managing director of retailers' association BAG, in an interview with the Frankfurter Allgemeine Zeitung on Thursday. BAG is the first trade association to admit such price increases.

"Occasionally there were massive price hikes, but not many. We are no angels, and besides, businessmen have to make profits," Mr Hellwege said. The statistics indicated no above-average inflation rate, he said. Nevertheless, spectacular price jumps left lasting impressions with consumers.

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