Hindustan Unilever (HUL) has increased the prices of its soaps and detergents this month by 3-20 per cent, across the Wheel, Rin, Surf Excel, and Lifebuoy range of products.
This comes on the back of rising raw material costs, which had forced the company to initiate several similar rounds of price hikes last year, too.
The sharpest increase in the latest round is for Surf Excel’s bar, which has seen its price increase by 20 per cent from Rs 10 to Rs 12. The price of Lifebuoy’s 125 gms pack has been increased from Rs 29 to Rs 31, while the 125 gms bar of Pears soap will cost Rs 83, against Rs 76 earlier.
For Rin, the company increased the price of its bundle pack (of four 250 gms bars) to Rs 76 from Rs 72, and its 250 gms single bar to Rs 19 from Rs 18. It has also increased the price of its Wheel detergent powder, half kilo and 1 kg packs from Rs 30 to Rs 31 and Rs 60 to Rs 62, respectively.
In November, the company had increased prices across its portfolio of products in the range of 1-33 per cent.
HUL did not respond to queries sent by Business Standard citing ‘closed period’ ahead of its results.
The maker of Lux soaps though is not the only one to hike prices.
Adani Wilmar told Business Standard last month that it will hike prices of its packaged wheat flour by 5-8 per cent and basmati rice by 8-10 per cent in January as input prices have increased.
Parle Products will also announce another round of price increase in the March quarter (Q4) and hike prices in the 4-5 per cent range.
Parle Products will also increase prices again in the March quarter (Q4) and hike prices in the 4-5 per cent range. It had hiked prices in the October-December quarter.
Dabur India said in December that it is monitoring the inflation situation and may increase prices in Q4 if inflation persists, adding that inflation in recent quarters has been unprecedented at over 9 per cent. It had already hiked prices by around 3-4 per cent, besides undertaking several cost-saving initiatives, to mitigate this impact.
It also said that inflation remains a big concern going forward and that it intends to mitigate this impact through calibrated price increases and cost saving initiatives.
CavinKare will also hike prices of its shampoos and skin care products to the tune of 2-3 per cent this month.