Hindustan Unilever, Nestlé hike prices of coffee, tea and noodles

The prices of Maggi noodles, tea, coffee and milk have been increased. In a jolt for consumers, Nestle India and Hindustan Unilever Limited (HUL) have hiked the rates of their instant, tea and coffee products, according to media reports.

Meanwhile, India's retail inflation hit an eight-month high of 6.07 per cent in February, remaining above the Reserve Bank of India's (RBI) comfort level for the second month in a row, while wholesale price-based inflation soared to 13.11 per cent on account of hardening of crude oil and non-food item prices, government data showed on Monday.

The previous high for retail inflation was 6.26 per cent in June 2021.

The consumer price index (CPI) based-retail inflation, which is taken into account by the RBI while deciding its monetary policy, rose mainly because of costlier food items, as per the data released by the National Statistical Office (NSO).