Companies are being warned they could go out of business, if they don't lift prices.

Annual inflation's hit 6.9 percent  - a 30-year high.

Auckland Business Chamber CEO, Michael Barnett, says businesses are paying more for shipping, fuel, and transport and have higher staff costs.

He told Roman Travers consumers will have less money in their pockets, so businesses need to ensure their products have the necessary margin for them to survive.

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