FMCG firms Nestle and HUL have announced price increases for their various products, citing inflationary pressures. Nestle’s Maggi, milk and coffee powders will become more expensive, while HUL’s range of tea and coffee powders will become more expensive.
After an increase in the prices of most consumer goods in all categories, Nestlé’s Maggi is the most recent and one of the consumer’s favorite products that costs more. According to sources quoted to CNBC TV-18, Nestle India is increasing the prices of Maggi noodles by 9 to 16 percent. In addition to Maggi, Nestle India has also implemented a price increase for its milk and coffee powder.
With the latest changes, the price of 70g Maggi Masala noodles is now Rs 14 from earlier Rs 12. The price of 140g Maggi Masala noodles is increased by Rs 3 or 12.5 percent while the 560g pack is more expensive will be up 9.4 percent to and will be sold for Rs 105 from previous Rs 96.
Nestle A+milk 1 liter box costs 4 percent more than the current price, which will cost it from Rs 75 to Rs 78. The price of Nescafe classic coffee powder is increased by 3-7 percent, increasing the price of Nescafe classic 25g pack by 2.5 percent to Rs 80 from Rs 78. Nescafe classic 50g pack is increased by 3.4 percent to Rs 150 from Rs 145, according to CNBC TV-18.
FinancialExpress.com also contacted Nestle India for details on the price hike. However, the company did not answer the question.
In addition, another FMCG major HUL has also made price increases in its tea and coffee powder range. The company’s Bru coffee will become 3 to 7 percent more expensive and this applies to all packaging and variants in the range. The prices for Taj Mahal tea will be increased by 3.7-5.8 percent for packaging and variants.
Also read: https://www.financialexpress.com/industry/daily-use-items-to-get-costlier-dabur-itc-hul-other-fmcg-firms-may-raise-prices-by-up-to-20- if-cost-increase/2412816/
Brooke Bond 3 rose varieties will now be 1.5 to 14 percent more expensive for packs and varieties. According to CNBC TV-18 reports, while announcing tariff increases for its products, HUL said it faced inflationary pressures on its products and was able to provide the right price-value comparison to consumers.
These price increases come ahead of the release of retail inflation data for February 2022.
In recent months, there have been drastic price increases in various segments and categories due to various reasons including cost of raw materials, transportation costs, etc. In fact, the total household budget has increased significantly in recent months due to rising inflation.