Electrolux warns on prices

Electrolux expects its price rises to stick as rival manufacturers also seek to pass on soaring raw materials costs to customers, it said yesterday. Appliance maker Electrolux and market leader Whirlpool have been hiking prices to offset costs for materials such as steel and plastics, and are seeking growth in emerging markets. “It was a tough quarter with raw materials up and pricing being pressured. We knew this was going to be a tough quarter,” Electrolux chief executive Keith McLoughlin said, after the group reported a 43 per cent drop in core earnings to 696m crowns (£68.87m).