Many of you may have noticed that there has been a significant price rise that has affected many of the brands we carry at Melbourne Hi Fi.
This has affected brands where the local Australian distributor acquires their brand in US dollars and consequently these items have had their price increased.
The increase in some cases has been as high as 18%.
The reason for this is when prices were set some time ago, they were generated at a time when our local currency was trading at very close to parity.
When our dollar decreased in value; the local distributors did not immediately change their prices.
Their practice is to general hold their prices bearing in mind that a currency shift may soon reverse and that our local market is far from buoyant.
But this drop is significant and there is little to suggest that this will be a short term fluctuation.
Views expressed by our Central Bank indicate that that the Australian dollar should better trade at 75 US cents.
Which Brands are affected:
The obvious ones are those manufactured in the USA.
Brands such as Sonos, Synergistic Research, Nordost, Viola Labs and VTL will be the main brands which have already passed on the price increase.
The currency does not just affect the US manufactured products but also those manufactured in China such as KEF, Nu-Force, Audio Lab, Cambridge Audio, Monitor Audio, Denon and Marantz.
This is because trade with China is conducted in US dollars as opposed to the Yuan.
We have altered our website pricelists but in cases where other retailers trail behind in making changes to their websites, we will honour our Price Guarantee for any advertised item that is sold at a lower price.