More price hikes in the offing by consumer durable firms as rupee falls

Metals such as copper and steel go into the making of white goods such as refrigerators and ACs and the threat of a trade war between the US and other countries has only put pressure on metal prices

The depreciation of the rupee has come as a double whammy for consumer durable and electronic companies reeling under the impact of the recent Customs duty hike. The rupee depreciated to Rs 65.17 to a dollar on Friday, its weakest in three months, and is expected to touch Rs 66 to a dollar in the coming weeks, raising the prospect of a price hike by firms who depend on import of components for their products.

A depreciating rupee impacts imports, as firms have to pay more against the dollar, pushing them to pass this on to consumers. The Rs 600-700 billion