North India Statesman
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News India Live, Digital Desk: Even before Suryadev showed his harsh attitude in Jharkhand, the heat of inflation has started being felt in the market. If you are thinking of buying a new AC, fridge or cooler for your home this season, then there is bad news for you. The clouds of deepening war in the Middle East (West Asia) and the increasing tension between Iran-Israel-America are now having a direct impact on your household budget. Due to global instability, there is panic in the electronics market and a huge jump in prices has been recorded.
Crude oil and logistics hit, cooling machines become expensive by 10%
According to market experts, due to the ongoing conflict in the Gulf countries, there has been a rise in international crude oil prices. This has had a direct impact on transportation and logistics costs. Major companies manufacturing ACs and refrigerators have increased the prices by 5 to 10 percent. Big electronics showroom operators of Ranchi say that the goods coming from the companies are now getting costlier, the direct burden of which is being put on the pockets of the customers.
Raw material shortage: Copper and aluminum prices skyrocket
The supply chain of important raw materials like copper, aluminum and steel used in the manufacturing of ACs and refrigerators has been disrupted due to the war. Apart from this, the gas and plastic components used in the compressor have also become expensive. Retail traders of Jharkhand believe that the price of AC which was available for Rs 35,000 last year has now crossed Rs 38,000 to Rs 40,000. At the same time, the ‘cooler’, the companion of middle class families, has now become costlier by Rs 500 to Rs 1,000.
Double blow of chip shortage and import duty
The supply of semiconductor chips used in electronic equipment is also under the shadow of this global tension. Due to change in routes of ships, freight cost has increased, due to which the cost of imported parts has increased. Amidst the sounds of stock shortage in the markets of Jharkhand, many big brands have sent new price lists to their diners. The situation for consumers is that due to the fear of ‘if you don’t buy now, it will be more expensive’, people are buying in a hurry.
Prices will become more bitter as demand increases
Usually the demand for AC-fridge is at its peak in March and April. But this time, along with demand, international politics is determining the prices. Meteorologists have predicted record breaking heat in Jharkhand this year. In such a situation, demand will increase further, but if the supply chain does not improve, there is a possibility of another round of increase in prices. Customers in cities like Ranchi, Dhanbad and Jamshedpur have now started turning to EMI options to mitigate the inflation ‘shock’.
