Global chip shortage, pandemic demand drive up home appliance prices
Published May 12, 2021 at 9:16 pm
A global shortage of computer chips, along with a surge in demand during the pandemic, is driving up prices of home appliances.
Guelph−based appliance company Danby says a shortage in supply can be seen in items like freezers, microwaves, fridges and other appliances that use chips.
Danby CEO Jim Estill says the chip shortage has exacerbated already inflated prices caused by increased demand as people stay home and use their appliances more.
Lowes Canada says gas ranges seem to be most affected by the chip shortage in its stores.
It says the situation varies depending on the level of complexity of the technology in products.
The global chip shortage is also being felt by automakers and tech manufacturers alike, forcing a slash in production.
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