In 2024, inflation is expected to have a significant influence on the beauty and personal care market. As the cost of raw materials, production, and transportation rises, consumers are likely to see an increase in the prices of beauty and personal care products.

For example, the price of essential oils used in skincare products may increase due to inflation. This could lead to higher prices for facial serums, moisturizers, and other skincare items that contain these essential oils.

Additionally, the cost of packaging materials such as plastic bottles and containers may also go up, impacting the pricing of various beauty and personal care products.

References:

1. "Impact of Inflation on Consumer Goods Prices," Economic Times, 2023. <URL>
2. "Rising Costs of Raw Materials in Beauty Industry," Cosmetics Business, 2023. <URL>