Electronics Prices Rise Due to Chip Shortage
In brief
- Electronics prices are rising due to a global shortage of memory and storage chips.
- The chip shortage is caused by high demand from tech giants for data center services.
- This has led to price hikes on products like iPads and Xbox consoles.
- The latest inflation data shows a 14% surge in computer software and accessory prices over the last year.
- Prices for personal computers are up 1.3%.
- The chip shortage is expected to continue, which may lead to further price increases, including a possible $200 hike for some iPhone models.
- Electronics prices will likely keep rising.
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