OSAKA (Kyodo) Sanyo Electric Co. said Monday it will hike the prices of air conditioners, store food showcases and other food-related equipment used by commercial establishments by 10 percent to 15 percent.
The decision was forced by rising cost of materials, including steel, copper, aluminum and petroleum-derived substances, the electric equipment maker said.
The 15 percent markups in suggested retail prices for air conditioners used in stores, offices and other buildings will take effect in November.
Hikes of 10 percent in the prices of food-related products, including showcases, equipment for use in restaurant kitchens and food dispensers, will kick in from January.
Sanyo said copper prices have jumped 110 percent over the past year and aluminum prices have risen 40 percent.