New Delhi: In addition to the risk to individuals health, the global economy is also bearing the brunt of coronavirus. China, the epicenter of COVID-19 is a major supplier of raw materials and shut down of factories there has wreaked havoc in the supply chain, following which prices of several commodities have been increased. Also Read - Coronavirus: IIT Bombay Suspends Classes Till March 29; Students Encouraged to go Back Home
Take a look at what has become dearer and what has become cheaper due to coronavirus:
Items that have become dearer
Gold: Yellow metal saw the biggest rise post the outbreak of coronavirus. Since January 1, the retail price of pure gold in Delhi has appreciated by over 12%, say reports.
Xiaomi Mobile Phones: Chinese smartphone maker Xiaomi has increased the price of its popular phone Note 8. The price of the 8GB+64 GB variant of the Xiaomi Note 8 has been hiked by Rs 50o.
Masks and sanitisers: As the demand for masks and sanitisers shot up, they are being sold at a premium of over 300 per cent, said reports. A basic surgical mask that is priced at Rs 10 each is being sold for Rs 40. The items are also out of stock at various chemists and online portals.
Medicines: The prices of some medicine have also hiked after the outbreak of COVID-19. Prices of Paracetamol and Penicillin G (antibiotics) have gone up by 40% and 58% respectively.
Consumer durable products like – Air Conditioners, Refrigerators, Microwaves, Washing Machines become more expensive due to COVID-19 outbreak.
Items that have become cheaper
Air Tickets: Aviation companies have reduced the prices of tickets due to a 30 per cent drop in bookings amid COVID-19 scare.
Petrol and Diesel: Prices of petrol and diesel have also been slashed as global oil prices have been on a downward trend since the coronavirus outbreak. However yesterday, the Indian Government raised excise duty on fuel by Rs 3 per litre, the highest in five years.
Chicken, Eggs Seafood: Prices of chicken, eggs and sea food has fallen by 50 per cent as the demand for non-vegetarian items has tanked amid the coronavirus scare.
Tea: Iran and China have stopped importing tea post the outbreak of COVID-19. Following this, prices of tea have plunged by 40 per cent.