This new year brace yourselves for another unpleasant round of price hikes across the country and across sectors. In 2022 all prices will skyrocket. As Petrol and Diesel prices have already crossed the century mark throughout the country.
With such a steep rise in fuel prices, food and transport charges have come as an added burden on the common man’s purse. As this year comes to an end high inflation rates this year have left ordinary people in distress and tension.
Wholesale Price Index (WPI) inflation in 2021 has been sharply rising every month. With the Wholesale Price Index (WPI) standing at 14.23 percent last month. This is the first-ever time in the last decade that the Inflation in the country has soared to these levels.
Read More: Government Of India To Concentrate On Drone Sector
With the New Year around it is likely that the prices are to follow an uptrend thereby skyrocketing inflation in the next year. With predictions of rising automobile costs in 2022, India’s leading manufacturing companies, major consumer companies are currently observing price increase again in the next coming year.
Fast-moving consumer goods (FMCG) companies are all set to raise prices by near about 4-10 per cent in the next three months/ quarter.
FMCG majors like Hindustan Unilever, Dabur, Britannia, Marico, and other FMCG companies have raised prices by about 5-12 percent in the previous two quarters.
Dabur CEO Mohit Malhotra said that another round of such sharp price raisings in the fourth quarter was inevitable if the inflation did not ease.
In India, speaking about consumer electric companies, this month have already raised their prices by 3-5 percent on select consumer electric products like refrigerators, washing machines, air conditioners. However, consumer electric products prices are again set to increase in the next year.
Home appliance product prices are expected to surge by about 6-10 percent. Such a surge is a result of high input costs, shortage of IC chips, and uncertainty in the global supply chain network.
2 Comments