With the onset of the festive season, people’s household budgets can get a bit strained. The effect of price increase in AC, LED TV, refrigerator, washing machine and other consumer electronics has started to be felt from 1st October i.e. from today. Their prices may increase by around 3 to 8 percent depending on different companies and products. That is, if you are gearing up to buy a new TV, AC or any other household electronic item this festive season, you may end up spending more money than ever before. To investigate this, our correspondent Shubham Pandey took stock of several showrooms in Mumbai. There he spoke to the shopkeepers and learned how the effect of the increased prices was visible on the consumers and the market.

Big impact on AC prices

The biggest impact can be seen on AC prices. According to reports, AC prices may increase by around 5 to 8 percent. At the same time, it may affect the pockets of LED TV buyers. Their prices are likely to increase by around 3 to 7 percent. Apart from this, everyday household appliances like refrigerators and washing machines may also become more expensive by around 3 to 4 percent.

Companies hiked prices

According to an ET report, companies like Blue Star, Godrej Appliances, Haier, Daikin and Super Plastronics have hiked the prices of their products. These companies have announced a price hike of around 4 to 10 percent across various categories. At the same time, Panasonic is currently monitoring the market situation and may decide on a price increase later.

According to a PTI report, LG and Bosch Home Comfort have also hiked AC prices by around 5 percent. Bosch Home Comfort sells Hitachi brand air-conditioners in India. This means that AC buyers may have to pay more than before during the festive season.

Why are prices rising?

Now the question is why the prices of these electronic goods are increasing? The main reason for this is the rising cost of raw materials used to make these products. The prices of materials like copper, steel, aluminum and plastic have increased. Apart from this, the cost of transporting goods from one place to another i.e. freight and shipping costs have also increased. The impact of these increased costs is now being reflected in the prices of companies.

However, there is still scope for consumers to get some relief. Some shops may have old stock in the market. In such a situation, old stock products may be available at earlier prices at some shops. That is, if luck favors you and there is old stock left in a showroom near you, you may have a chance to avoid the increased prices. But the condition of the land is not the same. Many shopkeepers are seen selling AC, TV, fridge and other appliances at new prices from October 1. In such a situation, it becomes important for consumers to know how much the price has actually increased in their city and on the product of their choice.

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