Business
Phones Get Costlier. Inflation Goes Digital.
The Take
Memory chip prices climbed worldwide this quarter. Phone and laptop makers passed the full hike straight to Indian buyers. Economists needed a fresh term for this and picked 'digital inflation.' The word 'digital' changes nothing on the actual price tag. A costly phone stays costly. The inflation bites hard while the prefix decorates.
The Wire
Mobile phones and laptops have become costlier across India due to a surge in memory chip prices, per Moneycontrol. The Times of India reports that gaming consoles are also affected by the memory price hike. Economists term this trend 'digital inflation,' as price pressures spread across the consumption basket. OpenAI CEO Sam Altman commented on the rising gadget costs.
The receipts
Source: Moneycontrol.com