Spices to soaps

Consumer-focused companies have been left with few options but to increase the prices of their products as input costs mount because of various factors, including supply chain disruptions. This has been affecting monthly household budgets.Prices of scores of items  from spices to soaps to rice have increased in the past year.Consumer-focused companies have come up with a number of solutions to address this problem they include a reduction in pack sizes, the introduction of bridge packs, and passing on the price increase to the consumer on bigger packs.In the essential non-foods space, branded bathing soaps are costlier by 15 per cent YoY. FMCG companies, such as Hindustan Unilever and Godrej Consumer Products, have resorted to increasing the prices of soaps. The prices of branded detergent, too, are up 9.7 per cent in the past year; floor cleaners are costlier by 12.3 per cent, according to Bizom’s data.In the indulgence foods segment, the prices of butter, ghee, and basmati rice are on the rise, too. The sharpest spike is seen in the price of branded basmati rice, which now costs 32 per cent more than a year ago. Butter is costlier by 7.7 per cent, while ghee is 5.3 per cent more expensive.