Festive Season Prices Set to Surge: Consumer Electronics Hike by Up to 8%

Consumer electronics and appliance makers are set to raise prices of air conditioners, televisions, washing machines, and other products ahead of the festive season. Several companies plan increases from October 1 due to higher costs of copper, aluminium, steel, and crude-linked materials, along with elevated freight expenses and currency volatility.

Prices could rise 5-8% across several categories. AC prices are expected to increase by 5-8%, while some manufacturers are raising refrigerator, washing machine, and LED TV prices by 3-4%. Blue Star, Godrej Appliances, Haier, Daikin, and Super Plastronics have confirmed hikes ranging from 4% to 10%.

Haier plans further hikes after Diwali and in January, potentially taking the cumulative increase to around 15% through January. The company's president, NS Satish, said copper prices had risen from $8,000-9,000 per metric tonne last year to $14,500.

The price increases come ahead of a crucial sales period, with Onam through Dussehra and Diwali typically accounting for 30-40% of appliance makers' annual sales. Daikin Airconditioning India chairman and managing director Kanwaljeet Jawa said the company had already raised prices by 8-10% from September 16.