Poundland owner says cost inflation won't inevitably mean shopper price rises

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LONDON, June 24 (Reuters) - Renewed cost inflation from commodities and global freight rates will not inevitably mean price rises for shoppers of Pepco Group's Poundland, PEPCO and Dealz brands, its boss said on Thursday.

"It's my strong cultural belief that a discounter is committed first to its customers to keep prices as low as possible, so we will do our damnedest to keep prices low," Chief Executive Andy Bond told Reuters after the group reported first-half results. read more

"We'll take all the mitigating actions we can," he said.

Bond said he also thought price increases for consumers were not inevitable because it was not yet clear how long the inflationary cycle would last.

"It's not clear if this is a six-month or a three-year issue," he said.

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Reporting by James Davey Editing by William Schomberg

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