Nestle’s Maggi, one of the most popular brands among customers, has recently increased in price, following a price increase across the board for most consumer goods. Nestle India is increasing the price of Maggi noodles by 9 to 16%.
Nestle India has raised the price of its milk and coffee powder, in addition to Maggi.
Maggi Masala noodles 70 gramme will now cost Rs 14 instead of Rs 12 due to the recent adjustments. The price of Maggi Masala Noodles 140 gm has increased by Rs 3 (12.5%), while the 560 gm bag has increased by 9.4% and will now be sold for Rs 105 instead of Rs 96.
Nestle A+milk 1 litre cartons would cost 4% more than they do now, increasing to Rs 78 from Rs 75. The price of Nescafe classic coffee powder has increased by 3-7 percent, bringing the price of a 25 gm pack of Nescafe classic to Rs 80 from Rs 78. 50 g while Nescafe classic 50 gm pack is hiked by 3.4 per cent to Rs 150 from Rs 145.
Furthermore, another FMCG major HUL too has taken price hikes in its tea and coffee powder range. The company’s Bru coffee will get costlier by 3-7 per cent and this will be true for across packs and variants in the range. Taj Mahal tea prices are hiked by 3.7-5.8 per cent across packs and variants.
Brooke Bond 3 roses variants will now be costlier by 1.5-14 per cent 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.
These price hikes come ahead of the release of the retail inflation data for February 2022.
The recent months have witnessed drastic price hikes across segments and categories due to varied reasons including cost of raw materials, transportation costs, etc. Because of rising inflation, the average household budget has increased significantly in recent months.