new Delhi. The ever-increasing inflation is giving a blow to the common people. Sometimes the house prices are increasing and sometimes the price of petrol and diesel is loosening the pockets of the people. Even food items are now out of reach of the people. The situation is that retail inflation has crossed the upper target of 6 per cent set by RBI.
In the coming time, inflation is going to hit even more. Inflation is also slowly monitoring your Maggi and Chocolate, which can be made in two minutes. It is also eyeing coffee as KitKat and Nescafe maker Nestle will soon increase the prices of its products.
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burden on consumers
Nestle has warned that it will increase the prices of its products. Suresh Narayanan, chairman and managing director of Nestle India, says that rising food and commodity inflation is a matter of concern. The company now wants to pass some burden on the consumers to reduce its cost. Therefore, it has become necessary to increase the prices now.
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Prices may increase by 3.1 percent
Nestle said it may increase prices by 3.1 per cent even before its financial results to offset rising operating costs. Input cost will increase further in 2022 as compared to 2021. In such a situation, they have no other way but to increase the price. Consumer goods companies have already warned of a rise in prices for the products due to rising raw material, energy and labor costs.
better sales figures
According to Nestle, there has been an increase of 3.3 percent in total sales last year. Its net profit has also increased by 38.2 percent during this period. The company said that sales of coffee, household products and healthy food products have increased during the epidemic.
Inflation in America has reached a 40-year high. The US Federal Reserve is also going to raise interest rates. Similarly, retail inflation in the UK reached 5.5 per cent in January, a 30-year high. The Bank of England estimates that inflation may increase by 2 percent in the coming times.
Tags: business news in hindi, inflation, RBI
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