In any nation or organization, it is inevitable that prices must rise to keep up with inflation rates.
I do not know where the price setting intervals begin and end.
I have always assumed that at the beginning of the financial year, that all the prices are risen in response to inflation rates.
I do not know if they have to make them rise following predictions in the coming year or whether it is only taken from the previous year.
What other factors are there?
Most important question is, when in the financial year does the prices rise? the beginning or the end, or maybe even the middle? or is it every 3 months?
Snow Man
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Answers & Comments
Verified answer
In most industries prices fluctuate based on the cost of the goods. If the price of the raw materials or the labor increase the price of the goods increase. Conversely if the cost of the material or labor decreases the cost of the goods decreases.
In most industries price setting is not an interval related activity.
Now, for the exceptions. The major exception is a case where a supplier and buyer negotiate a fixed price to apply over a specific period of time provided that the purchases accepts delivery of some minimum amount of material.
A secondary exception is where the supplier will provide "price protection", that is if the price charged by the supplier goes down within a fixed number of days the purchaser will be charged the new lower price, but if the price goes up the price originally charged the purchaser stands.
So, unless there is a contract between buyer and seller prices can fluctuate several times a day -- the prime example being the stock market.
Hope this helps
Jerry-the-bookkeeper