Hindustan Unilever to take further price hikes despite volumes taking a hit

Country going through probably the most difficult economic situation, says chairman

Hindustan Unilever (HUL) will continue to increase prices of its products as inflation remains high even as market growths have moderated and volume growth has declined, Nitin Paranjpe, chairman of the company, told shareholders at its 89th annual general meeting (AGM) on Thursday.

Paranjpe said the company was working towards cost-efficiency and the rate of annual cost savings was about seven. He said the country was going through “probably the most difficult economic situation due to high inflation and supply chain disruptions”.

Pointing out that India was getting to a situation where there have been 14 consecutive months of double-digit