With the new hikes from FMCG giants, the price that Indian consumers pay for some of the most mainstream brands is likely to increase.
Amid the ongoing inflation, two of the leading Fast Moving Consumer Goods (FMCG) companies in the Indian market have hiked prices across a range of products. Hindustan Unilever Limited (HUL) and Nestle have increased the prices of products like tea, coffee, instant noodles and milk.
With the new price list, the price that Indian consumers pay for some of the most mainstream brands is likely to increase. The reasons stated by the companies behind these price hikes reportedly range from “inflationary pressures”
Popular consumer brands get price hike
Bru coffee, which is owned by HUL, is set to see hike of 3-7 percent across its coffee powder packs of Bru gold and instant coffee pouches. The Taj Mahal tea will now be 3.7 to 5.8 percent costlier across range and packaging sizes, as per media reports. The price of Brooke Bond tea is set to be hiked by 1.5 to 14 percent across the range and sizes.
Popular Maggi noodles, from the stable of Nestle, will see the price go up by 9 to 16 percent. The 70-gram pack will now cost Rs 14 instead of Rs 12. The larger 560-gram pack will now cost Rs 105 instead of Rs 96 after a 9.4 percent hike. Milk and coffee powder from Nestle are also set to get costlier, with the A+ litre carton of milk costing Rs 78 from Rs 75. The price of the Nescafe classic coffee powder has been hiked by 3 to 7 percent.
The reports of the price hike came ahead of the release of inflation numbers for February today. India’s retail inflation surged to 6.07 per cent in February 2022, as per data released by the Ministry of Statistics & Programme Implementation (MoSPI). This is the second consecutive month that the data has exceeded the Reserve Bank of India’s (RBI) upper margin of 6 percent.
Also released today, the wholesale price inflation in February reached 13.11 percent, staying in double figures for the eleventh straight month.