Inflation in the country is touching new dimensions every day. Due to inflation, not only the people of the country but also the budget of big companies have started deteriorating. Recently, Varun Berry, Managing Director and CEO of Britannia, the country’s largest biscuit maker, has told Bloomberg in an interview that the cost of the company is increasing rapidly due to rising inflation. To reduce the pressure of inflation, the company is working on a plan to increase the price of its products by up to 7 percent.
Inflation increased by 3 times than expected: Varun Berry said that after the Russia-Ukraine war, the situation has deteriorated rapidly, inflation has increased. This is the worst time in the last two years. We had estimated inflation to increase by 3 per cent this year, but inflation has increased by 8 to 9 per cent, 3 times more than the estimate. In such a situation, keeping the prices under control is now out of the limit.
Demand may decrease in India: American giant research firm Jefferies says that due to Corona virus, companies around the world were already facing problems in supply-chain due to labor shortage and other reasons. The Russia-Ukraine war has made this situation more serious. Inflation is increasing rapidly across the world. India, where more than 60 per cent of the demand in the country comes from the private sector. can.
These companies have increased the prices: Recently, the country’s two largest FMCG companies, Nestle and Hindustan Unilever, have increased prices due to rising costs. Nestlé has increased the prices of Maggi, the country’s largest selling noodle, by 9 to 16 per cent. The price of Nestle’s Tetra Pack Milk A+ has been increased by Rs 3 per liter while Nestle’s coffee powder has been increased by 3 to 7 per cent.
The country’s largest FMCG company Hindustan Unilever has also increased the prices of its products. The price of brew coffee powder increased by 3 to 7 percent. Taj Mahal has increased the price of tea by 3.7 to 5.8 per cent, while that of soap and detergent pounder has been increased by 1.5 per cent to 9 per cent.