War-driven input costs trigger price hikes across FMCG, ACs, paints and jewellery

HUL lifts prices 2-5%, Marico 6-7%, GCPL 4-7% and Asian Paints 9-14% as input inflation bites. Voltas and Blue Star push AC tags up 5-8%, Amul adds Rs 2/litre on milk, while a gold duty hike clouds jewellery volumes for PNG and Tata-owned chains heading into peak season.

— Source publishedMon, 18 May, 2026, 04:32 IST·First seen Mon, 18 May, 2026, 07:49 IST·Source Times of India · Business

What happened

Hindustan Unilever · War-driven input cost inflation forces price hikes across Indian FMCG, appliances, paints and jewellery. HUL, Marico, GCPL, Amul, Voltas,

Key facts

  • Rs 2 per litre milk
  • 5% AC hike
  • 8% AC hike
  • 4-7% GCPL
  • 6-7% Marico
  • 2-5% HUL
  • 9-14% Asian Paints
  • 10-25 bps inflation

Why this matters

Cross-category pricing stress and a gold duty shock open a window to scout distressed regional brands and squeezed jewellery players, while reassessing input-hedging M&A in paints and FMCG supply chains.