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The bewildering selection of labels, repertory and prices has made the classical recording industry seem like a flea market. Now several other series are being added to the scene.

All are from Elektra International Classics and intended to sell at budget prices (under $7 for CDs, under $4 for cassettes) or at mid-range

(under $10 for CDs; no cassettes are planned).

Elektra`s Erato label is introducing four new names. The budget-priced Residence series, which was inaugurated in May, features composers and the music they wrote in specific places, such as ”Bach in Berlin.” The three others, all mid-priced, are Emeraude, Libretto and Hommage.

Emeraude, to be introduced in July, will offer unusual repertory from Erato`s back catalog.

The Libretto series, consisting of full-length operas, makes its debut in August with Mstislav Rostropovich leading Prokofiev`s ”War and Peace”;

September will see Wagner`s ”Parsifal” and ”Ariane at Barbe-Bleue” by Paul Dukas, plus five other operas.

Hommage will concentrate on individual artists.

Elektra`s Teldec label is planning two new lines: the budget-priced Esprit and an as-yet-unnamed, mid-priced series.