New Delhi, Feb. 7 -- Biscuit maker Britannia Industries Ltd has started increasing prices to counter a surge in the cost of key ingredients, palm oil and cocoa.

The industry has been experiencing inflation-deflation, said Varun Berry, vice chairman and managing director of Britannia, during the December quarter earnings call on Friday.

"Towards the beginning of the year, it seemed that the environment would not be inflationary, and we had taken pretty steep price increases towards the last year. So, we started to correct that, and as we were doing that, there was a huge inflation that came at us, and we have now started to take price increases," Berry added.

On Thursday, the Good Day and Tiger biscuits maker reported a 4.8% sequential ...