High prices of FMCG, durables to stay longer

NEW DELHI: Consumers will have no respite this season from the ever increasing inflationary pressures with many companies in FMCG and consumer durables sector contemplating further price hikes to cushion themselves from high input costs.

FMCG majors Dabur and Godrej Consumer Products along with Korean electronics giant LG are mulling over increasing product prices, as the input cost pressure mounts.

"We are in the process of hiking prices of some of our products by 5-10 per cent, the price rise will differ from quantum of products," Godrej Consumer Products Executive Director and President Hoshedar Press told PTI.

Echoing similar sentiments, a Dabur India official said the company would pass on the impact of high input costs to consumers to neutralise the effect.

In a recent analyst meet, company CEO Sunil Duggal said the company could hike prices of its consumer care products by seven per cent and that of consumer health items by 8-9 per cent but would not increase the prices of food products.

In June, Dabur India hiked the prices of some of its products by 3-5 per cent. It had hiked prices of hair oil, chawyanprash and toothpaste by four per cent and that of shampoos by seven per cent.

LG Electronics India Director of Sales & Marketing V Ramachandran said the company has already started passing on the burden to customers.