look news india
New Delhi: In the past 2-3 months, price hikes ranging from 2 to 17 per cent on certain food and personal care brand products and categories by fast-moving consumer goods (FMCG) companies have led to a rise in the monthly household shopping bill, said a report.
The report said companies have increased prices by 2 per cent to 9 per cent on soaps and body washes, 8 to 11 per cent on hair oils, and 3 to 17 per cent on select food items. After raising prices in 2022 and early 2023 to maintain margins due to higher input costs, FMCG companies refrained from raising prices in FY24, but prices have started rising again.
Despite the fall in crude oil and palm oil prices, prices of other commodities like milk, sugar, coffee, copra and barley have increased.
Godrej Consumer Products, Hindustan Unilever, Procter & Gamble Hygiene and Wipro raised prices by 4 to 5 per cent at select stock-keeping units of soaps. Palmolive body wash sold by Colgate saw a high single-digit percentage increase, while Pears body wash saw a 4 per cent rise.
Hindustan Unilever has increased prices by up to 4 per cent across its entire portfolio. Due to inflationary pressure, Nestle has increased the price of coffee by 8-13 per cent. The price of Maggi Oats Noodles has increased by 17 per cent.