The soaring inflation rates in the country have also hit the humble matchbox. After 14 years, the All India Chamber of Matches in Sivakasi decided to increase the cost of matchboxes, hiking the prices from Re 1 to Rs 2.
Citing rising costs and inflation, the matchbox industry announced the price hike from December 1.
In the last 14 years, the matchbox is probably been the only item that is used in daily life and has not witnessed a price rise.
The price of the matchbox was last hiked in 2007 from 50p to Re 1.?
In 1995, the price of matchboxes was increased from 25 paise to 50 paise.
The manufacturing of matchboxes relies on 14 key raw materials including potassium chlorate, red phosphorus, sulphur, potassium bichromate, wax, white splints, blue match papers, cardboards for inner and outer boxes. All of these components have witnessed a steep hike in costs, hence leaving manufacturers with no option but to increase the retail price of matchboxes.