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Energy Norms, Weak Rupee to Hike AC, Fridge Prices Next Year
7 Dec
Summary
- Rupee depreciation and higher commodity prices will increase consumer durable costs.
- Revised energy efficiency norms will take effect from January 1.
- Price hikes expected early next year for TVs, ACs, and refrigerators.
Consumer durable manufacturers anticipate significant cost increases impacting prices of essential appliances. The weakening Indian Rupee and escalating commodity prices are exerting upward pressure on production costs for categories like LED TVs, air-conditioners, and refrigerators.
Further compounding these challenges, revised energy efficiency star labelling norms for air-conditioners and refrigerators will be implemented starting January 1. Industry experts predict these new regulations alone could necessitate price adjustments of 3-8% for these appliances.
The combined effect of currency fluctuations, raw material costs, and new energy standards suggests consumers may face price hikes of up to 10% for certain products early in the upcoming year.
