Maggi to cost more as Nestle, HUL announce price rise for major products including coffee and tea
The price hikes were announced ahead of the release of the retail inflation data for February 2022.
FollowThe prices of most consumers goods of the Fast-Moving Consumer Goods (FMCG) companies Nestle and Hindustan Unilever Limited (HUL) has announced the surge in their various products, citing inflationary pressure. As per the sources cited by CNBC TV-18, Nestle India is increasing the prices of Maggi noodles by 9 to 16 per cent. Other than Maggi, Nestle India has also hiked the price of milk and coffee powder.
Due to the recent development, the price of Maggi Masal noodles of 70 gm will now cost Rs 14; earlier, it was Rs 12. For 140 gm, the price is hiked by Rs 3, i.e., 12.5 per cent, for 560 gm pack it will increase by 9.4 per cent and will be sold at Rs 105, which was earlier at Rs 96.
Nestle A+ milk of 1l carton will be priced 4 per cent more than its current price, making it Rs 78, earlier Rs 75. Nescafe classic coffee powder is priced by 3-7 per cent rise, taking the price of 25 gm pack up by 2.5 per cent, Rs 80 from Rs 78. Nescafe's classic 50 gm pack is costlier by 3.4 per cent to Rs 150, earlier Rs 145, as per CNBC TV-18.
Another FMCG company HUL has also hiked the price of its tea and coffee powder range. The Bru coffee will rise by 3-7 per cent, which will be valid for all the packs and variants in the range. Taj Mahal Tea will get costlier with Nescafe's 7-5.8 per cent rise across packs and its variants.
Brooke Bond 3 roses variants will be hiked by 1.5-14 per cent across packs and variants. Following CNBC TV-18, during the announcement of the price rises on its products, HUL stated that it was facing inflationary pressure on its products and delivered the right price-value equation to consumers.
The price hikes were announced ahead of the release of the retail inflation data for February 2022.
Expenses have risen dramatically in recent months across all segments and categories for various reasons, including raw material costs, transportation expenses, and so on. Because of rising inflation, the average household budget has increased dramatically in recent months.
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