AC and refrigerator prices rising up to 10% this summer
Business
Thinking about buying a new air conditioner or refrigerator? Prices are going up: expect to pay up to 10% more this summer.
The ongoing U.S.-Israel-Iran conflict is making raw materials pricier, so brands like LG and Hitachi have already raised AC prices by 5% to 7% in the March quarter, and Godrej plans a similar hike starting in April.
Polypropylene and aluminum costs surge
It all comes down to rising costs for key materials. Polypropylene, used in washing machines, is up 14%, and aluminum has jumped 6% to 7%.
Intex is also increasing prices, and companies are leaning on financing schemes such as zero-interest EMIs to help maintain affordability.
While premium models should stay popular, entry-level appliances might see slower sales as people rethink their spending.