As inflation is taking over the food industry, many edible products are becoming more expensive. There are now hints that the price of our go-to snack, Maggi, may be raised as well. If the price of Maggi rises, FMGC items such as KitKat and Nescafe may follow suit, given they are all owned by the same firm, Nestlé. A recent statement by Nestlé India revealed that the company is experiencing ’10-year highs’ in the cost of raw materials and packaging necessities.
Maggi Price Was Hiked By 9-16%
As per reports, Nestlé had announced the hike in the price of Maggi by 9-16% in March. Thus, 70 grams of Masala Maggi which used to cost ₹12 earlier now costs ₹14. 560 grams of Maggi which used to cost ₹96 earlier now costs ₹105. Not only has the price of noodles increased, but Nestlé has also hiked the price of milk.
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50 grams of Nescafe Classic used to cost ₹145 earlier. Now, it has been increased to ₹150. Not only Nestlé, Hindustan Unilever Limited has also raised prices of its products like Bru Coffee and Taj Mahal Tea. Not only are these FMGC companies increasing prices, but global restaurant outlets like KFC and Pizza Hut have also increased the rates of their products. Even street food vendors are hiking the prices of snacks like Vada Pav and Samosa Pav to stay afloat amid inflation.
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Also Read: Dining Out Across India Will Now Become Expensive Due To Inflation
What Did Nestlé India Say On Inflation?
As per reports, in the latest statement, Nestlé India revealed that the rising prices of major raw and packaging materials are affecting earnings from operations. It said that continued inflation is seeming to be a major factor in the near to medium term. The company stated that it will deploy efficiency, pricing and other strategies prudently to withstand the storm.