With the market in the grip of the worst inflationary spiral in recent times, there is bad news for the consumer. There seems to be no let up in price hikes of essential household items and consumer goods — largely driven by sharp increases in input costs — and prices are set to rise further.
If you now want to buy a Maruti 800, you will have to pay Rs 2,500 more. Gold is also costlier by Rs 150 for 10 gm. Drug prices for lifestyle diseases are expected to go up by 1.2-2.5 per cent.
AC prices are also likely rise by 5-7 per cent. With summer just around the corner, this is clearly more bad news.
Meanwhile, in Delhi’s biggest vegetable wholesale market at Azadpur, prices of onions, potatoes and popular pulses saw significant hikes. Onion, for instance, was sold for Rs 17 per kg on Tuesday, a rise of Rs 2.50 from Monday’s rate.
"At retail outlets, this should cost anywhere between Rs 25 and Rs 30,” said a potato and onion agent at the market. Prices of cars and fast-moving consumer goods (FMCGs) have also been rising. Rising input costs have prompted Maruti to pass on a part of this burden to its customers, a Maruti official said.
The carmaker has already raised prices in the last two quarters of its small cars, Maruti 800 and Alto, by Rs 2,500 each in two stages.
FMCGs have not been left out, although “the possibility of a further price hike may be checked in April and not before that,” said HK Press, executive director and president, Godrej Consumer Products Limited.