People are forced to bear the brunt of inflation for the past several months amidst fears of a worldwide recession. During this, the budget of the common man's house deteriorated. However, now there is hope for relief from this situation. The prices of groceries and daily essentials and clothing are expected to soften in the coming quarters.
According to experts, the reason for this is the reduction in the production cost of these things. Experts associated with the consumer goods market believe that the result of increasing sales and decreasing costs can be seen in the form of softening in the prices of products. If this happens, it will be relief news for the common man.
Fast-moving consumer goods companies believe that they may decrease in the coming two quarters, in which case they can consider reducing the price of their products. Companies such as Hindustan Unilever, Britannia, Marico, and Imai, have presented their results in the last quarter, indicating that their costs may come down in the next two quarters.
If the cost comes down, then obviously companies will consider reducing the prices of their products. Some companies may also gift larger packets (increase in the weight and size of the contents) to the customers at the current price after cost reduction.
In the last few years, there has been a relief in the prices of these things.
Cotton prices have declined by 30 percent in the recent past. This has given relief to the textile companies. During the last month, the prices of edible oil have also been reduced by up to 12 percent. If we talk about the last 15 days, then the price of rice bran oil has decreased by 12 percent, sunflower oil by five percent, and groundnut oil by 7 percent. Last week, the price of Brent oil reached a 10-month low. There has also been a relief in the prices of vegetables after festivals. The prices of essential commodities like potatoes and onions have come down by up to 50 percent. In Maharashtra's Lasalgaon, the price of onion was ₹30 per kg in the first week of November, but now it is being sold at ₹13 to 14 per kg.
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