He said many Rotorua retailers imported goods from overseas so those costs might have to be passed on although he wasn't expecting it to have a "drastic effect" at this stage.
Rotorua BDO partner Stephen Graham said businesses with significant fuel costs such as forestry or transport would also experience increases as "the fuel companies are generally the first to use an exchange movement as an excuse to move costs up.
"Where businesses choose to pass these costs on, consumers will see an increase in costs. The first noticeable increase will generally be the cost of fuel. However, any product that is imported has the propensity to be more expensive - big screen TVs, computers, vehicles, mountain bikes."
House of Travel Rotorua director Ken Muller said the high kiwi dollar had been encouraging locals to take overseas holidays because their money went further when away.
"The US has seen big growth, not just to Hawaii, also to mainland USA," he said.
Mr Muller said he didn't think a weaker dollar would have a dramatic effect on local travel habits. They would still travel, but might have to spend more carefully while away, he said.
Atlantis Books owner Fraser Newman described the drop in the dollar as "annoying".
"If most of your bills are in foreign currency it adds a couple of cents. It's good for exporters but as a retailer it does push the price up of things we sell."
Rockshop manager Daryl Cogger said the higher dollar had been a "consumer's paradise" but it made it harder for retailers to achieve their targets.
"As price points come down, we have to work harder to maintain turnover. For retailers, it hasn't been easy because we have had to sell more product to make the same amount of money."
Readers on the Rotorua Daily Post Facebook page said they bought products such as books, make-up, clothes and Playstation games online from overseas. And although that may become slightly less of a bargain with a falling dollar, one saw the bright side for Rotorua.
"It means more tourists can afford to come here and spend money in our shops."
What do you think?
Email editor@dailypost.co.nz, write a letter to PO Box 1442, Rotorua or text OP (message) to 021 242 4568.