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AC prices surge 3.8% in February due to EGP flotation - Daily News Egypt

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AC prices surge 3.8% in February due to EGP flotation

1.5 hp air-conditioners settle between EGP 6,500 to EGP 8,800

Electrical appliance companies raised the prices of air conditioning units in February by 3-3.8%. According to price lists obtained by Daily News Egypt for AC units produced by Union Air, Samsung, and LG, the former offers the lowest price.

An executive in one of the manufacturers of electrical appliances said that companies suffered huge losses after the flotation of the Egyptian pound, which prompted them to raise prices. He explained that companies had obtained letters of credit from banks to import at an exchange rate of EGP 8.88 against the USD; yet these companies are now paying back the banks at a price of EGP 18 to the dollar.

The price of Union Air AC units of 1.5 hp amounted to EGP 6,500 for the cold-only units and EGP 6,800 for hot-and-cold units. The 1.5 hp AC units manufactured by LG ranged from between EGP 8,100 for cold-only units to EGP 9,300 for hot-and-cold units, while Samsung offers units at EGP 8,300 for cold only and EGP 8,900 for hot-and-cold units.

Union Air increased the price of its 2.25 hp units to EGP 8,600 for cold-only units and EGP 9,000 for hot-and-cold units. The price of similar units at LG ranged between EGP 10,700 and EGP 12,500. Samsung offered cold-only units at EGP 10,800 and EGP 11,500 for hot-and-cold units.

Going up to 3 hp, Union Air increased prices to EGP 9,600 for cold only and EGP 10,300 for hot and cold. Similarly, LG offers its units at EGP 11,900 for cold only and EGP 13,400 for hot and cold. Samsung goes a bit higher at EGP 12,200 for 3 hp cold-only units and EGP 12,800 for cold-and-hot units.

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