Active Stocks
Tue Apr 16 2024 15:59:30
  1. Tata Steel share price
  2. 160.05 -0.53%
  1. Infosys share price
  2. 1,414.75 -3.65%
  1. NTPC share price
  2. 359.40 -0.54%
  1. State Bank Of India share price
  2. 751.90 -0.65%
  1. HDFC Bank share price
  2. 1,509.40 0.97%
Business News/ News / India/  Matchbox price doubles after 14 years; to cost 2 from December
BackBack

Matchbox price doubles after 14 years; to cost ₹2 from December

After 14 years, the All India Chamber of Matches in Sivakasi decided to change the matchbox price from ₹1 to ₹2 because of rising costs and inflation

The prices of matchbox is set to double from DecemberPremium
The prices of matchbox is set to double from December

The price of a single matchbox is set to double from December because of the increase in the cost of the raw materials used. From December, the matchbox will be sold for 2. After 14 years, the All India Chamber of Matches in Sivakasi decided to change the matchbox price from 1 to 2 because of rising costs and inflation.

The last time matchbox price was increased was in 2007 from 50 paise to Re 1. Before that, the cost of the matchbox was increased from 25p to 50p in 1995.

According to the matchbox manufacturers, there has been a rise in the price of 14 items that are used for making matchboxes. For example, the cost of one kilogram of red phosphorus rose to 810 from 425, the cost of wax hiked to 58 from 80, the outer box board from 36 to 55, and the inner box board from 32 to 58.

Besides, the manufacturers said that the rising cost of paper, splints, potassium chlorate, and sulphur have also increased the price of the matchbox.

Meanwhile, the RBI Governor said that the Reserve Bank remains laser-focused to bring back retail inflation to 4% over a period of time in a non-disruptive manner.

The central bank has been mandated by the government to ensure the Consumer Price Index (CPI) based inflation is at 4 per cent, with a band of 2 per cent on either side. The retail inflation, which was above 6 per cent during May and June, has started moving down and stood at 4.35 per cent in September.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 24 Oct 2021, 08:12 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App