Inflation rate: Be ready people! The price of essential commodities rises by up to 15%. Inflation rate: Last week Nestle and Hindustan Unilever Ltd raised their prices by up to 15 per cent, followed by Dabur and Barley.
Dabur and Parley are set to raise prices next week as commodity prices of Nestle and Hindustan Unilever Ltd. rose by 15 per cent last week.Prices will rise. The middle and common people, who are already paying more for essentials, will have to pay more in the coming days.
War
Crude oil imports have been hit hard by the ongoing Ukraine-Russia war. In addition, wheat imports and cooking oil prices have risen sharply. The cost of baking will increase as the price of crude oil, the raw material for the plastic used to pack the goods, increases.
Nestle, HUL
Thus, Nestle and Hindustan Unilever have inevitably raised the prices of their products. In the meantime, Dabur and Barley are also looking to raise prices.
Prices will rise
Mayang Shah, a senior executive at Barley's business, told the Associated Press: "We are watching the situation. We could not bear the constant rise in inflation. Therefore, we will also raise prices by 10 to 15%. This is not to say that we will raise prices by this amount, as prices are constantly changing. The price of palm oil has gone up by Rs 180 per liter and has now come down to Rs 150. The price of crude oil fell from $ 140 to $ 100.
Inflation
Ankush Jain, Chief Financial Officer, Dabur India, said, “As inflation continues to rise, prices continue to rise. Rising inflation will push up commodity prices, leaving consumers vulnerable. We are constantly monitoring the market environment and raising prices in line with inflation.
Abinesh Roy, Vice President, Edelweiss Financial Services, said: “FMCG companies have begun to pass on price hikes to the public. Hindustan Unilever and Nestle have pushed up prices. Next, we expect some companies to raise prices by at least 5%. Nestl has increased the price of its Maggi noodles by 9 to 16%, while Nestle has also increased the price of powder and coffee powder.