New Delhi, 30 Oct: If you are planning to buy refrigerators, air-conditioners or washing machines, buy them as soon as possible as there will be a hike in prices up to 3-5% in November as white goods makers plan to pass on higher input costs.
While retailers are busy clearing their unsold inventory from Diwali after which fresh stock will be sourced at higher prices. Since the last price hike, input cost has gone up by 30-50% affecting the industry post-January.
The price of steel and copper has increased by 40% and 50% respectively and both responsible for a crucial chemical called MDI, used to make foams mostly for refrigerators.
These three affect almost 70% of input cost and hence there is a net impact of 5-6% on refrigerators prices.
Washing machines will be the next to be hit price hike eventually, AC prices will be revised from January,