Pay Upto 16% More For Maggi; Nestle Milk Becomes Expensive| HUL, Nestle Hike Price
Prices have surged for almost all consumer goods across almost categories, the most recent product in the category is Nestle’s Maggi. Nestle India is planning to raise the prices by 9 to 16 percent for Maggi noodles according to sources quoted to CNBC TV-18. Along with maggi, Nestle India is planning to also raise the prices of milk and coffee powder.
Price Hike Of Maggi
So, after these price changes the price of Maggi masala noodles 70 gm shall now be raised after to Rs 14 from the earlier price of Rs 12. For the 140gm packet, the prices will be hiked by 12.5 percent, which is a price hike of Rs 3. The price for 560 gm will be raised from 96 to 105 rupees, which is a price increase of 9.4%.
Price Hike For Other Products
The price of Nestle A+milk 1 litre carton shall increase from Rs 75 to Rs 78, which is a cost increase of 4 percent. The price of Nescafe classic 25 gm pack will increase from Rs 80 to Rs 78, which is a price increase of 2.5 percent. According to CNBC TV-18, Nescafe classic 50 gm pack is hiked by 3.4 per cent to Rs 150 from Rs 145.
Around the price hike for details, FinancialExpress.com also reached out to Nestle India. The company, however, did not answer the query.
In its tea and coffee powder range, FMCG major HUL too has taken price hikes. Across all packs and variants in the range, Bru coffee will get costlier by 3-7 per cent. Prices for Taj Mahal tea are hiked by 3.7-5.8 per cent across packs and variants.
Across all packs and variants of Brooke Bond 3, there will be a price increase of 1.5-14%. While announcing the rate hikes on the products, HUL said that it was facing inflationary pressures on its products and was able to provide the right price value equation to consumers, as per the reports by CNBC TV-18.
The price hikes come ahead release of the retail inflation data for February 2022.
Due to various reasons which include cost of raw materials, transportation costs, etc. there have been drastic price hikes across segments and categories. Because of soaring inflation, the overall household budget has gone significantly in the last months.