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Consumer goods to cost more

Consumer goods to cost more due to rising inflation

Apnaloan.com Research Bureau

04 Jun 2008

Consumer electronics are the latest to come under the shadow of rising inflation. Manufacturers of desktop computers, television sets, refrigerators and washing machines, have raised and are planning to increase prices over the next few months.

They apparently are unable to absorb a sharp spike in costs of raw materials and components, especially steel. This is the first time in many years that consumer electronics and computer makers in India have increased prices.

Computer maker Hewlett Packard has increased prices of its laptops in India by 13 per cent. This means a HP laptop that now comes for Rs. 40,000 will cost Rs. 45,200 excluding local taxes.

LG Electronics India has announced a hike in prices of monitors and CD/DVD writers by 7-10 per cent.

One of the reasons for manufacturers to increase prices is the global rise in component cost arising out of a shortage and the depreciating rupee against the US dollar. Since most components that go into laptops and other gadgets are imported, any fluctuation in the dollar will impact the prices of these products.