After a surge in prices of most consumer goods across categories, the most recent and one of consumers’ favourite products to cost more is Nestle’s Maggi. According to sources quoted to CNBC TV-18, Nestle India is raising the prices of Maggi noodles by 9 to 16 percent. Besides Maggi, Nestle India has also taken a price hike for its milk and coffee powder.
With the latest changes, the price of Maggi Masala noodles 70 gm will now be Rs 14 from earlier Rs 12. The price of Maggi Masala Noodles 140 gm is hiked by Rs 3 or 12.5 per cent, while the 560 gm pack is will be costlier by 9.4 per cent to and will be retailed at Rs 105 from earlier Rs 96.
Nestle A+milk 1 litre carton will cost 4 per cent more than its current price, which takes it to Rs 78 from Rs 75. The price of Nescafe classic coffee powder is hiked by 3-7 per cent, which will take the price of Nescafe classic 25 gm pack up by 2.5 percent to Rs 80 from Rs 78. Nescafe classic 50 gm pack is hiked by 3.4 per cent to Rs 150 from Rs 145, according to CNBC TV-18.
FinancialExpress.com also reached out to Nestle India for details around the price hike. However, the company did not answer the query.
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. According to the reports by CNBC TV-18, 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. The overall household budget has, in fact, gone up significantly in the last few months because of the soaring inflation.