Inflation a key monitorable in the near term, says ITC annual report

ITC's FMCG brands crossed annual consumer spend of Rs 24,000 crore and the year also saw about 110 new product launches from the segment

Inflation will be a key monitorable for ITC in the near term, the company said in its annual report for financial year 2021-22 (FY22).

In its director’s report, the diversified conglomerate said the operating environment during the year was challenging and marked by heightened uncertainty and volatility due to the Covid-19 pandemic, continued geopolitical tension, inflationary headwinds on the back of commodity super cycles, and extended supply chain disruptions.

The recovery momentum was weakened in the course of the year by new strains of the coronavirus and an unprecedented spike in commodity prices due to global supply chain disruptions, container