Hindustan Unilever Limited (HUL) and Nestle announced a hike in products such as tea, coffee, milk, and noodles on March 14, sources told CNBC TV-18.
HUL has hiked Bru coffee powder prices by 3-7 percent across packs. Bru gold coffee jars costlier by three-four percent, instant coffee pouches costlier by 3 to 6.66 percent across packs.
Bru instant coffee pouches are now costlier by 3 to 6.66 percent across packs. Taj Mahal tea prices are hiked by 3.7-5.8 percent across packs and variants, according to CNBC TV-18.
Also Read: FMCG: Strong headwinds for the sector
Brooke Bond 3 roses variants are now costlier by 1.5-14 percent across packs and variants. While announcing the rate hikes on its products, HUL said that it was facing inflationary pressures on its products and was able to provide the right price value equation to consumers.
On the other hand, Nestle India announced that it had hiked the prices of Maggi noodles by 9 to 16 percent. Nestle India has also taken a price hike for milk and coffee powder.
With the latest changes, the price of Maggi Masala noodles 70 gm is hiked to Rs 14 from Rs 12. The price of Maggi Masala Noodles 140 gm is hiked by Rs 3 or 12.5 percent, while the rate of 560 gm pack is hiked by 9.4 percent to Rs 105 from Rs 96.
Nestle has also hiked the price of A+milk 1 litre carton by four percent to Rs 78 from Rs 75. The rate of Nescafe classic coffee powder is hiked by three-to-seven percent, while Nescafe classic 25 gm pack is hiked by 2.5 percent to Rs 80 from Rs 78, according to CNBC TV-18.
Also, the price of Nescafe classic 50 gm pack is hiked by 3.4 percent to Rs 150 from Rs 145.
The latest price hikes on food products by the leading fast-moving consumer goods (FMCG) companies comes ahead of the retail inflation data for February 2022, to be released later today.
Also Read: CPI inflation jumps to 6.01% in January 2022, highest in seven months
India's headline inflation rate based on the Consumer Price Index (CPI) jumped to a seven-month high of 6.01 percent in January 2022 and marginally crossed the Reserve Bank of India's comfort zone of four-to-six percent.
RBI Governor Shaktikanta Das had said that the retail inflation in January was likely to come in around the six percent mark, largely due to an unfavourable base effect.
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