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From car to cooking oil will become expensive in the new year, know the reason

Highlights

  • Consumer electronic companies have already increased the prices by 3 to 5 percent this month.
  • Veteran FMCG company Dabur said that it has increased the prices by 4 percent.
  • Car makers are also thinking of increasing the prices of their products in the next quarter.

New Delhi
From cars to cooking oils are going to be expensive in the new year. In the coming days, companies are going to increase the prices of their products. So far this year, companies have increased the prices of products at least two to three times. Once again the prices of the products may increase by 2 to 10 per cent.

Companies are forced to increase the price of the product due to pressure on margin. On one hand the inputs and logistics cost have increased and on the other hand the supply constraint has created problems for them. Fast-moving consumer goods (FMCG) companies say they may increase product prices by 4 to 10 per cent in the next three months. However, they are assuming that the increase in prices will have an impact on sales.

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Consumer electronic companies have already increased the prices by 3 to 5 percent this month. These include products such as refrigerators, washing machines and air conditioners. These companies are thinking of increasing the prices by another 6 to 10 per cent from next month. This will be the fourth increase in prices since December last year.

Car makers are also ahead in raising prices. They have increased the price several times this year. Top executives associated with the industry said that cars could become expensive in the coming days. The reason for this is that so far the auto companies have not got relief from the rising prices of steel. However, prices of cooking coal and other inputs have moderated slightly.

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Veteran FMCG company Dabur said that it has increased the prices by 4 per cent. It is looking at raising another 4 per cent. Mohit Malhotra, CEO of the company, said, “If the inflation rate does not moderate, then next quarter we will be forced to increase the prices once again.”

Several FMCG companies, including Hindustan Unilever, Britannia and Marico, have increased prices by 5-12 per cent during the last two quarters. This was due to rise in crude oil, palm oil prices and jump in packaging cost. Krishnarao Buddha, senior category head, Parle Products, a biscuit maker, said, “Despite increasing prices, margins have come down. There has been no respite despite moderation in some raw material prices. Due to this, we will get another 4 to 5 per cent in the next quarter. have to increase.”

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