Normal
Recent inflation has even spread to home appliances, one of the most oversupplied goods in China. Haier, China's biggest appliance producers and an exporter of mini refrigerators and other appliances, said last week it will raise domestic prices of refrigerators and washing machines by 7% to 10% in response to higher producing costs. The price rises are notable because winter is usually the slowest season for selling appliances, according to Citi's Xue, who added that it is "probably the first time in the past 15 years that we have seen price increases" in that sector. Guangdong province, whose minimum wages will be the country's highest as of April, is China's largest manufacturing center for home appliances. That could put even more upward pressure on appliance prices.
Recent inflation has even spread to home appliances, one of the most oversupplied goods in China.
Haier, China's biggest appliance producers and an exporter of mini refrigerators and other appliances, said last week it will raise domestic prices of refrigerators and washing machines by 7% to 10% in response to higher producing costs.
The price rises are notable because winter is usually the slowest season for selling appliances, according to Citi's Xue, who added that it is "probably the first time in the past 15 years that we have seen price increases" in that sector.
Guangdong province, whose minimum wages will be the country's highest as of April, is China's largest manufacturing center for home appliances. That could put even more upward pressure on appliance prices.
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