In Kolkata, prices for durable goods such as air conditioners, refrigerators, washing machines, televisions, and smartphones are projected to increase by 5-15% by the end of April 2023. This will mark the third price hike in just four months, primarily due to persistently high costs of crude oil derivatives and components like memory chips. Electronics companies are facing significant pressure, with some executives indicating that air conditioner prices could rise by an additional 6-7% and mobile phones by 10-15%. The rising costs have raised concerns about consumer demand, which may be stretched as affordability decreases. Additionally, prices for daily essentials, including soaps and detergents, are also on the rise, as manufacturers pass on higher raw material costs to consumers. The Indian smartphone market is expected to contract by around 10% year-on-year, reflecting the impact of elevated memory prices and weak entry-level demand. Overall, repeated price hikes are eroding the gains made after previous reductions in consumption taxes, leading to a challenging market environment for both consumers and manufacturers.