By the end of this month or from June next month, the prices of household appliances and consumer electronics goods like television, washing machine and refrigerator may increase by 3 to 5 percent.
Rupee hits record low against dollar Now it can have an impact on the pockets of the general public. According to industry experts, by the end of this month or from June next month, the prices of home appliances and consumer electronics items like television, washing machine and refrigerator ie fridge may increase by 3 to 5 percent.
Will affect the pockets of customers
According to industry sources, there has been a tremendous increase in manufacturing costs due to the weakening of the rupee and rising inflation. To compensate for this, companies are forced to pass this on to the customers. According to sources, the depreciation of the Indian rupee against the US dollar has added to the manufacturing woes as imported components have become costlier and the industry heavily depends on imports for critical parts.
This is also the reason
Apart from this, due to the strict lockdown imposed due to increasing cases of Kovid-19 in China, many ships are standing at Shanghai port. In such a situation, the problem of shortage of parts has increased and the pressure on the stock of the manufacturers has increased. Many such products which are heavily dependent on imports are missing from the market.
The Consumer Electronics and Equipment Manufacturers Association (Siema) said depreciation of the rupee against the US dollar has added to the problems for the industry.
What do market experts say?
Eric Breganza, president of Siema, said, “With raw material prices already rising and now the US dollar getting stronger, the rupee weakening, so all manufacturers expect minimal profit. From June onwards, prices will increase by three to five per cent. Some AC manufacturers have increased the prices in May itself, others will increase the prices by the end of this month or in June.
Panasonic India said
Panasonic India and South Asia Chief Executive Officer (CEO) Manish Sharma said the cost pressure continues to mount. However, the company is trying to have the least impact on the consumers. “The last time the price hike was done was in January 2022. However, due to rising commodity prices, prices of various products can be increased by four to five per cent.