Days after milk rates went up, bread makers have begun raising prices amid rising packaging and freight costs. Modern Bread has already increased prices by Rs 5, while other major players such as Britannia and Wibs are expected to follow suit soon, according to Nuvama.
The cost pressures are also likely to spill over into other segments, with biscuit prices expected to see hikes soon.
These rates hikes come as prices of various consumer goods rise amid supply disruptions due to conflict in the Middle East.
Last week, Gujarat Cooperative Milk Marketing Federation (GCMMF), which retails its products under the Amul brand increased milk prices by Rs 2 per litre across India, effective May 14, citing rising input costs.
GCMMF, in a statement, said it has "increased the prices of fresh pouch milk by Rs 2 per litre in major milk selling variants/packs across India effective from May 14".
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