Technology News : As the festive season begins, household budgets may take a bit of a toll. From today to October 1, prices of AC, LED TVs, refrigerators, washing machines and other consumer electronics are expected to increase. Depending on the company and product, prices may increase by 3 to 8 percent. This means, if you are planning to buy a new TV, AC or other household electronics this festive season, you may have to spend more than before. To investigate this, our correspondent Shubham Pandey visited several showrooms in Mumbai. He spoke to shopkeepers and learned how the increased prices are affecting consumers and the market.

AC prices affected the most

AC prices may be affected the most. According to reports, AC prices may increase by around 5 to 8 percent. LED TV buyers may also face a significant impact, with prices expected to rise by around 3 to 7 percent. Additionally, everyday household appliances such as refrigerators and washing machines may become more expensive by around 3 to 4 percent.

Companies increased prices

According to an ET report, companies like Blue Star, Godrej Appliances, Haier, Daikin and Super Plastronics have already increased the prices of their products. These companies have announced price hikes of around 4 to 10 percent across various categories. Panasonic is currently monitoring the market situation and may decide on a price hike later.

According to a PTI report, LG and Bosch Home Comfort have also hiked AC prices by around 5 percent. Bosch Home Comfort sells Hitachi brand air conditioners in India. This means that during the festive season AC buyers may have to pay more than before.

Why are prices rising?

Now the question is, why are the prices of these electronic goods increasing? One of the main reasons for this is the rising cost of raw materials used to manufacture these products. The prices of materials like copper, steel, aluminum and plastic have increased. Additionally, freight and shipping costs have also increased. The impact of these increased costs is now being reflected in companies’ prices.

Still little chance for relief for customers

However, there is still some room for relief for consumers. Some stores may have old stock. As a result, products from old stock may be available at earlier prices. This means, if luck is with you and a nearby showroom has old stock, you can avoid the inflated prices. However, the situation on the ground is not yet stable. Many shopkeepers are selling AC, TV, refrigerator and other appliances at new prices from October 1. Therefore, it is important for consumers to know the actual price increase in their city and on the products of their choice.