Summary Box: Consumers face costlier Christmas

Courtesy Newsvine - business  Wed, 07/30/2008 - 13:12

WHAT'S NEW: Consumers will be facing price hikes of up to 15 percent on holiday goods, from toys to European luxury handbags.

Many retailers had resisted passing along higher prices to consumers, but escalating costs — fueled by rising energy prices, higher labor costs in China and a weak dollar — are forcing stores, from warehouse clubs to high-end merchants, to pass more of the burden to shoppers.

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