new Delhi. If you are planning to buy AC, refrigerator and fan in summer, then hurry up. Due to rising cost, companies are considering increasing their prices in the next few days.
In fact, due to the Russia-Ukraine War, the prices of copper, aluminum have reached a record high in the global market. Its burden is also falling on the companies making AC, fridge and fans and their prices may increase by 7 to 10 percent in the next few days to recover the increased cost. Companies have already raised prices thrice in the last two years.
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Cost increased more than one and a half times in a year
The prices of aluminum and copper in the global market have increased more than one and a half times in the last one year. In February last year, the price of aluminum was Rs 1.61 lakh per tonne, which has now reached Rs 2.80 lakh. Similarly, copper prices also increased from Rs 5.93 lakh per tonne to Rs 7.72 lakh per tonne.
Companies are citing decreasing margin
Consumer electronics companies say that till now they were working by reducing their margins, but due to rising commodity prices, this is not possible now. In the last two years, the prices of the products have gone up by 15 per cent, which once again shows the scope for an increase of 10 per cent. There is a difference of 10 percent between the input cost and the market price of the products, which has become necessary to increase the price to bridge it.
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Pandemic and inflationary pressures
Companies still fear the third wave of Corona due to which they are not able to produce enough. Apart from this, products like paint and plastic are directly becoming expensive due to the increasing price of crude. Its impact is also visible on the production of consumer electronics. The cost of freight has also increased due to fuel inflation. Therefore, if the cost of production increases on the companies overall, then its burden is sure to fall on the consumers.
Tags: air conditioner, inflation
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