Just before the big festivals like Diwali and Dhanteras, the common consumers of the country are going to get a big shock. From October 1, the prices of household electronic goods like AC, TV and refrigerator are going to become costlier by 15 percent. Companies have taken this big step due to the continuous increase in the cost of raw materials, due to which the prices are increasing for the third time this year.
Why are the prices of electronic goods increasing?
Giving information about this, Mukesh Gupta, President of Agra Electric Contractors and Merchants Association, said that big companies have registered a huge jump in the prices of copper, aluminum and crude oil, whose direct and negative impact is now clearly visible on the market. The effect of inflation has started appearing in the major electronics markets of the city like Belanganj, Shah Market to Asafoetida Mandi and customers seem to be missing from the markets.
Crisis looms on auto sector and festive sales
Businessman Rakesh Gupta says that the impact of this inflation is not limited only to electronic goods, but it has also had a strong impact on the automobile sector. The prices of SUV vehicles of major companies of the country have also gone up. Haresh Aggarwal, President of the Federation of Industry Trade Associations, believes that although some old stock may be available at old prices for the festive season, the full 15 percent increase has been implemented on the new consignment. Due to this sudden inflation, it is feared that the bumper sales of Dhanteras and Diwali will be badly affected this time, due to which the worries of businessmen have increased a lot.