ITP Technology: A combination of rising import tariffs and higher labour costs has led to a leap in the cost of home appliances in Iran by as much as 30% in some segments.
by Michael Thorne
A combination of rising import tariffs and higher labour costs has led to a leap in the cost of home appliances in Iran by as much as 30% in some segments.
The price hikes have affected both imported goods and those manufactured inside the country, according to a recent report in Iranian newspaper, Iran Daily.
These factors have reportedly impacted prices of refrigerators, washing machines, ovens and heaters.
Refrigerator prices have risen 17% since March, while the cost of washing machines has leapt a massive 10-30% in the same period.
Small home appliances, including microwave ovens, meat grinders and vacuum cleaners, have also experienced an average 20% price rise during the four-month period.
GfK Marketing confirmed the price rises, and speculated that they could rise further in the short term.
Prices of TV receivers also rose, according to GfK, although local manufacturers of smaller CRT TV units operate at sufficient capacity to reduce the impact of the wage hike and rising costs of raw materials.
For 14- and 21-inch TVs, the major TV segment in Iran, prices have remained stable, said GfK Marketing production manager Nadim Shaikh. The reason for this is that the vast majority are manufactured in Iran.
However in the over 21-inch TV segment, prices have jumped significantly, since most of these units are imported.
Iranian officials have increased tariffs on imported goods, forcing retail prices to rise dramatically. The government is regulating imports in order to stimulate domestic production, he added.