Maggi, coffee & other daily food items to cost more as FMCG major HUL, Nestle hike prices

Fast-moving consumer goods (FMCG) major Hindustan Unilever Limited (HUL) has reportedly increased Bru coffee powder prices by 3-7% across packs and the price of Maggi Masal Noodles (140 grams) was increased by Rs 3 or 12.5%. As per media reports, on March 14, HUL hiked prices of several of its products such as tea, coffee, milk and noodles nationwide across packs.

While Bru instant coffee sachets are now more expensive by Rs 3 to 6.66%, Taj Mahal tea prices are hiked by 3.7% to 5.8% nationwide, as per reports. While Brooke Bond 3 roses variants are currently costlier by 1.5-1.4% across packs and variants. While announcing the rate hikes on its products, HUL stated that it has been facing inflationary pressures on its products and is able to confer the right price-value equation to consumers. 

In addition, Nestle India has announced that it increased the prices of Maggi noodles by 9% to 16% while also administering a rise in prices of coffee powder and milk. Recording the latest changes, the price of Maggi Masala noodles 70-gram is increased to Rs 14 from Rs 12 while Maggi Masala Noodles 140 gram is increased by Rs 3 or 12.5%. Notably, the rate of Maggi Masala Noodles 560 gram pack is increased by 9.4% to Rs 105 from Rs 96, as per media reports. 

Nestle increases prices  of A+ milk carton, Nescafe

Reports suggest that Nestle has also increased the price of A+ milk 1-litre carton by 4% o Rs 78 from Rs 75 and the rate of Nestle classic coffee powder is hiked by 3% to 7%. Nescafe's classic 25-gram pack has shot up by 2.5% to Rs 80 from Rs 78 while Nescafes classic 50-gram pack has increased by 3.4% from Rs 145 to Rs 150. 

Ahead of the retail inflation data set to release on March 15, the FMCG entities have listed out the prices hike on food products. The data is based on the Consumer Price Index (CPI) jumped into a seven-month high of 6.01% in January 2022 and marginally crossed the Reserve Bank of India's cap of 4% to 6%. Previously, RBI Governor Shaktikanta Das stated that the retail inflation in the month of January was hovering around a 6% mark owing to an unfavourable base effect. 

"Even as monetary policy remains accommodative, global spillovers have led to a tightening of financial conditions," he had said.