Maggi, coffee & other daily food items to cost more than FMCG Major HUL, Nestle Hike prices
Hindustan Unilever Limited (HUL), a major in fast-moving consumer goods (FMCG), has reported that Bru coffee powder prices have increased by 3-7% across packs, while the price for Maggi Masal noodles (140g) was raised by Rs 3 or 12.5%. According to media reports, HUL raised prices for several of its products, including tea, coffee, and milk, across all packs, starting March 14.
According to reports, Bru instant coffee sachets have increased in price by Rs 3 to 6.666%. Taj Mahal tea prices have increased by 3.7% and 5.8% nationally. Brooke Bond 3 roses varieties are currently more expensive by 1.5-1.4% in different packs and variants. HUL announced the rate increases on its products. HUL said that it had been dealing with inflationary pressures and was able to provide the right price-value equation for consumers.
Nestle India also announced an increase in Maggi noodles’ prices by 9% to 16%, while also increasing the prices for coffee powder and milk. The price of Maggi Masala noodles 70 grams has increased to Rs 14, from Rs 12, while the price for Maggi Masala noodles 140 grams has increased by Rs 3, or 12.5%, according to the latest updates. According to media reports, Maggi Masala noodles 560g pack has been increased 9.4% to Rs.105 from Rs.96.
Nestle raises prices for A+ milk carton and Nescafe
According to reports, Nestle has increased the price for A+ milk 1-litre cartons by 4% from Rs 75. The rate of Nestle classic espresso powder has been hiked by 3% and 7%. Nescafe’s 25-gram classic pack has gone up 2.5% to Rs 80, from Rs 75. Nescafe’s 50-gram classic pack has gone up 3.4% to Rs 150 from Rs 145.
The FMCG entities have published the price hikes on food products ahead of the March 15 release of retail inflation data. This data is based upon the Consumer Price Index (CPI), which reached a seven-month peak of 6.01% in January 2022. It marginally exceeded the Reserve Bank of India’s limit of 4% to 6.6%. Previous to this, Shaktikanta Das, the RBI Governor, stated that retail inflation hovered around the 6% mark in January due to an unfavourable base effect.