With the retail inflation in April hitting an 8 year record-breaking high of 7.79% due to high food and fuel prices, rising input costs are now forcing various companies to hike the prices of their products. Some companies are planning to go for other ways to balance the costs like using recycled cans, lightening the weight etc.
According to a report by news agency PTI, the manufacturers of home appliances and consumer electronics like TV, washing machines and refrigerators are going to hike the prices of their products by 3-5% from May end as they are facing a rise in input costs.
Some AC makers have already increased the prices of the products in May and some are planning to do the same by the end of May or early June.
Super Plastronics Pvt Ltd (SPPL), which has branding licences for international brands that include Blaupunkt, Thomson, Kodak and White-Westinghouse, is also planning to increase the prices of its TV range.
Last month, Hindustan Unilever Limited raised the prices of daily products like shampoos, tea, coffee etc. Read more about it here.
Instead of raising the prices of products, the companies are looking for alternatives like using recyclable products or reducing the weight of the products.
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