Consumer firms hint at a breather from price hikes as costs decline

According to economists, inflation is likely to ease by October as the monsoons have been progressing well with the cumulative rainfall being 9 per cent above the long-term average up to July 12

Indian consumers are likely to get respite from rising prices ju­st before the festival season. So­me consumer companies, in­cl­uding automakers, have indicated that they are planning to pause price hikes just before demand picks up in Au­gust, while keeping a close eye on volatile raw material prices.

Consumer product companies have defended steep hikes over the past year, arguing that their price increase has remained lower than the rise in commodity prices.

“At a macro level in the June quarter, our commodity price inflation was 20 per cent. Our price increase has been 12 per cent, (though) it gets accentuated