New shock of inflation! Buying cars, TV and AC will become expensive from April 1, this list will blow your senses

New Delhi: The deepening Iran crisis in global politics has started affecting the Indian market and the plans of the common man ranging from kitchen to luxury. Due to the rise in crude oil prices and disruptions in the supply chain, 1 April There is a possibility of a huge increase of 5-6% in the prices of products like car, fridge, AC and TV. Companies are now preparing to pass the burden of rising input costs directly on customers.

Why are prices increasing? crude oil game

Due to increasing tension between Iran and Gulf countries, the prices of crude oil are skyrocketing in the international market. This has had a direct impact on products like plastics, resins and polymers which are made from crude oil. Prices of these raw materials in the last one month 20-25% There has been a surge. Additionally, a 10% increase in freight rates and a 2% weakening of the rupee against the dollar have made imported goods even more expensive.

Auto and electronics sector hit the hardest

Companies can implement new prices as soon as the new financial year starts from April 1:

• Electronics (AC, Fridge, TV): Plastic parts are used extensively in these products, hence their prices 5-6% Can increase up to.

• Automobiles (Cars and Two-Wheelers): companies prices 2-3% Are considering an increase. luxury car manufacturer Mercedes-Benz and Audi has even officially announced a 2% increase.

• other products: Prices of shoes, synthetic clothes and household paints 9-10% The biggest rise till now can be seen.

The benefit of GST cut will end!

Executives of big brands like Godrej Enterprises and Haier India believe that this increase in costs has left the companies with no option. According to experts, due to uncertainty in the supply of raw materials, the benefits of any possible cut in GST rates will now be lost due to the increase in prices. Suppliers are now afraid to enter into long-term contracts, which has further increased market volatility.

Companies’ strategy: resort to ‘force majeure’

In view of the increasing pressure on the supply chain, companies are now working on short term planning of only 7 to 15 days. some companies ‘Force Majeure’ They are using the provision so that they can set new and increased prices of raw materials by deviating from the terms of the old contracts. Companies manufacturing fast-moving consumer goods (FMCG) like biscuits, soaps and shampoos are also keeping a close eye on the situation.

Major cost increases at a glance: