American chip-making giant Intel recently announced that it will increase prices on a majority of its microprocessors and peripheral chip products later this year.

According to a report by Nikkei Asia, the largest US chipmaker plans to increase prices on flagship components, including CPUs (Central Processing Units) for computers and servers. It also plans to raise prices on a range of other products, including chips for WiFi and other connectivity devices.

Although the prices have not been finalised yet, some chips could see a price hike of up to 20%.

Intel's move comes at a time when global inflation is at its peak, with the prices of most tech products being on the rise.