Global inflation of raw materials puts pressure on appliance manufacturers

GE Appliances Canada advises that rising costs of non-ferrous materials
may impact consumer pricing

TORONTO, June 19, 2018 /CNW/ - Over the past year, the price of raw materials has increased significantly on a global scale. In fact, a recent Bloomberg composite index of spot prices for 22 raw materials showed that commodities - including stainless steel, copper and aluminum - are at their highest prices since November 2014. In addition to these rising costs of commodities, pricing across the large appliance category may also be further impacted by the new tariffs and regulatory measures enacted by the U.S.

Given these recent market changes, industry leader GE Appliances Canada advised today that consumers should be prepared for price increases in the large appliance category.

"At GE Appliances, we're are acutely focused on offering competitive, fair pricing on all of our products. But we believe it's important to highlight the potential impact that price increases on raw materials may have on consumer pricing," explained Jennifer Caldwell, CFO at GE Appliances Canada. "We are closely monitoring the situation and are continuing to work to provide the best value to our customers."

About GE Appliances
GE Appliances, a Haier company, creates "good things, for life" through our passion for great appliances and the happiness they can bring to every household. With the Hotpoint, GE®, Haier, Café™, GE Profile™ and Monogram® brands, owners have more choices for making their kitchens and homes amazing each day. Our products include refrigerators, freezers, cooking products, dishwashers, washers, dryers, air conditioners and water filtration systems. For more information, visit geappliances.ca.

SOURCE GE Appliances

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