HUL, ITC hike soap and detergent prices citing surge in input costs

A pedestrian walks past the logo of HUL (File image: Reuters)

Prices of select items including soaps and detergents have been hiked by Hindustan Unilever Ltd (HUL) and ITC Ltd - two of the country's leading fast moving consumer goods (FMCG) companies - citing the surge in input costs, CNBC TV 18 reported on November 25.

HUL has increased the price of Wheel detergent powder by 3.4 percent for its 1 kg pack. This would result in a hike of Rs 2.

The company has also raised the price of Wheel powder's 500 gm pack by Rs 2, thereby, increasing it from Rs 28 to Rs 30.

The cost of Rin bar, also an HUL product, has been increased by 5.8 percent for its 250 gm pack. The FMCG giant has also hiked the price of Lux soap by 21.7 percent or Rs 25 for its 100 gm multipacks.

Meanwhile, ITC has raised the price of Fiama soap by 10 percent and Vivel by nine percent for their 100 gm packs.

The company has also hiked the price of Engage deodorant by 7.6 percent for 150 ml bottle, and Engage perfume by 7.1 percent for the 120 ml bottle.

An ITC spokesperson told CNBC TV 18 that "input costs are up significantly and the industry has increased prices".

Considering this, the company has revised the prices of select items, the spokesperson said, adding that the decision was aimed at ensuring "we don’t have to pass on the entire burden to the consumer."