1 Day
Source:
المصري اليوم
Electronics Dept: Rising prices raise inflation
The 12% increase in electricity prices for residential brackets has impacted the electrical appliances market. The head of the Electrical Appliances Division at the Federation of Industries predicts a decline in demand for purchasing appliances and anticipates a slowdown in the market due to consumers' reduced purchasing power. He confirmed that rising utility costs, especially electricity, indirectly affect inflation and decrease consumers' incentives to upgrade or buy new devices. Additionally, he pointed out that the industrial sector plans to expand the manufacturing of inverter air conditioning units that consume less electricity, aiming to provide high-efficiency appliances and reduce energy consumption. This initiative supports the sustainability of the electrical system and enhances the competitiveness of the local industry.
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