Rising input costs are forcing companies to hike prices again

Struggling to absorb rising commodity prices and logistics costs, companies across a range of sectors such as automobiles, consumer electronics, and smartphones are increasing prices, some of them for the third time this year.

In the past week, auto makers such as Maruti Suzuki and Hero MotoCorp, white goods manufacturers such Sony, LG and Godrej Appliances, and handset companies such as Xiaomi, Realme and Vivo have either announced or effected price hikes.

This follows an increase in prices of raw materials such as steel, aluminium, rubber, copper, plastics, rare metals and other input costs.