Crisil warns West Asia crisis may raise India consumer prices
Thanks to the ongoing crisis in West Asia, prices for things like metals, plastics, and fuel are climbing worldwide, and that could soon mean higher costs for everyday stuff in India.
A new Crisil report says manufacturers have been absorbing these rising expenses so far, but that might not last much longer.
Materials prices jump sharply in April
In April, prices for key materials shot up: copper rose 17%, aluminum rose 21%, crude oil products rose nearly 50%, and gas inputs rose by 19%.
Sectors like electronics, construction, and cars are feeling the pinch.
With supply chains hit by issues like the Strait of Hormuz closure, Crisil warns companies may soon start passing these extra costs on to shoppers, so your favorite gadgets or even basic items could get more expensive soon.