New Delhi: The Godrej Group on Wednesday said prices of its FMCG products can go up by 4-5% within the next three months due to rising input costs and also on account of the hike in excise duty announced in the budget.
“FMCG prices are likely to go up because the excise duty has gone up. Input costs are also going up, so I expect in the next two-three months there should be a price increase in several FMCG products,” Godrej Group chairman Adi Godrej told reporters here today.
Asked how much would be the likely price spike, Godrej said it will depend on the products, but added “cost increase due to the excise duty hike is 4-5%.”
He, however, also noted that the price increase would not be across the categories as some of them are produced in excise-free areas.
Godrej Consumer Products sells toilet soaps with brands like Cinthol, Godrej Fairglow and Godrej No.1, while its joint venture with the US-based Sara Lee —Godrej Sara Lee — sells insecticides and household items under brands like GoodKnight, Ambipur, Kiwi and Brylcream.