Come June, and consumers are going to be hit by a volley of price hikes. Steep hike in fuel prices does not burn a hole in the pockets of only those who buy fuel. Every consumer is impacted by a hike in fuel price because fuel is what the economy runs on.
Steep fuel prices and many other factors such as the closure of Sterlite Copper plant in Tuticorin will disappoint consumers from next month as prices of many consumer goods are going to rise.
Price of air-conditioners, refrigerators, washing machines and microwave ovens are set to get dearer by 2-5% from next month due to increase in crude oil prices, depreciation of the rupee and rates of key raw material steel and copper hardening up, according to industry executives. Read More
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