Maggi Price Hike: Inflation has increased the tension of the commoner. First milk, then tea and now Maggi prices have increased. According to the information released by Nestle India, the prices of Maggi have risen by 9 to 16%. A packet of Rs 12 was priced at Rs 14, a pack of 140 grams was costlier by Rs 3, a package of Rs 96 was priced at Rs 105.
Let us tell you that earlier, the country’s largest FMCG ( Fast Moving Consumer Goods ) company HUL ( HUL – Hindustan Unilever Limited )) has announced to increase in the price of tea. The company has increased the cost of Bru coffee powder by up to 3-7 per cent. The price of Taj Mahal tea has increased by 3.7-5.8 per cent. At the same time, before this, the cost of detergent pounder and soap had increased twice in February.
In February, HUL had further increased the prices of stock-keeping units of brands like Surf Excel Matic, Comfort Fabric Conditioner, Dove Body Wash, besides Lifebuoy, Lux and Pearce soaps.
Brokerage Edelweiss Securities had said that the prices of HUL’s home and personal care categories were increased by 1-9 per cent.
Why Maggi Become Expensive
The company says that increasing the prices has been due to increased cost. Experts say that the price of wheat has increased due to the war between Russia and Ukraine.
Prices are at nine years high in international markets. Mecca is at an 8-month high. In such a situation, the cost of companies has increased. That is why it has been decided to increase the price.
A record-breaking rise in inflation continues.
According to the data released by the government, inflation has broken many records in February. The wholesale inflation has increased to 13.11 per cent. At the same time, exactly a month ago, i.e., it was 12.96 per cent in January.
In February 2021, the wholesale inflation rate was just 4.83 per cent. In January, the wholesale inflation rate was 12.96 per cent. In December 2021, the wholesale inflation rate was 13.56 per cent, which was updated to 14.3 per cent.
In November, this inflation was 14.23 per cent. This is the 11th consecutive month when the wholesale inflation rate has doubled. Rising inflation is a grave concern for the government, economy and Reserve Bank of India.
The Reserve Bank Monetary Policy Committee meeting will be held next month. Before that, on March 16, the US Federal Reserve can make a big decision regarding the interest rate. The rise in inflation will increase the pressure on the Reserve Bank to change the policy.