This information is for you if you believe that the decrease in inflation makes it a good time to purchase new home appliances. Manufacturers have been raising the cost of necessary home appliances over the past few years. This pattern is anticipated to continue into this year. In recent years, the cost of air conditioners, refrigerators, smart TVs, and washing machines has soared, and this trend is projected to continue.
In addition, a further rise in costs is anticipated in the second half of FY2024 due to monsoon-related uncertainty.
Speaking to a private channel
Kamal Nandi, the business head and executive vice president of Godrej Equipment, claimed that since the end of 2020, when the inflationary cycle started, the cost of major consumer equipment like air conditioners has climbed by over 30%.
Although the cost of these gadgets would peak
in the middle of 2022, component prices have since decreased marginally, according to him. He continued by saying that it is difficult to make projections beyond the next three months owing to the persistent uncertainty.
Increasing Inflation
Avneet Singh Marwah the CEO of Super Plastronics issued a warning about an impending wave of price increases for these home products. Avneet continued by saying that due to a large increase of 30–35% in the price of LED panels during the last four months, they are considering raising TV prices by 7–10% starting in June.
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