The prices of consumer durable items to go up in 2017
Posted on: 02/Jan/2017 6:01:25 PM
An information is gathered that all the manufacturers of consumer durable items have decided to increase the prices of items like fridge and washing machine in the New Year.
The statistics reveal that following the November demonetization announcement that the currency notes of Rs. 500 and Rs. 1000 would not be valid, a severe cash crunch is being experienced throughout the country and the sales of consumer durable items were down by 37 percent to 38 percent in November alone.
The manufacturers of consumer durables feel that the sales have to be up at least by 20 percent in the first 3 months of the New Year to compensate for the loss as above. They have also planned to increase the prices of their products by 2 to 3.5 percent as a part of the plan for recovering a part of the loss.
