Responding to a query raised by 'Sri Lanka Mirror', Unilever - which is considered as the biggest seller of soap in the country, said that prices of their soap products have not been increased.
Upon being asked whether such a price hike is possible, a company spokesperson said they cannot tell that for certain.
However, social media posts had shown that prices had increased.
Meanwhile, speaking to 'Sri Lanka Mirror', local soap producer - Swadeshi admitted that the price of a 'Kohomba' and 'Rani' soap had been increased to Rs. 150 while a 'Kohomba Baby' soap had gone up to Rs. 140.
Upon being asked why soap prices were increased, the company employee had said he is unable to answer that and managerial level employees who are capable of answering the query are currently at a meeting.
Over the past weekend, consumers hoarding soap products at supermarkets were a common sight after rumours claimed of a possible price hike of soap products.
However, questions have been reportedly raised on such social media posts with some complete names of those who added such posts not being visible.
With the prices of essential goods skyrocketing and stocks in short supply, sales of products such as soap, shower gels, washing powder and toothpaste had considerably fallen in the recent past, reports say.
Earlier this week, US economist Steve Hanke's inflation dashboard showed Sri Lanka at No. 03 with a 119% annual measured inflation rate. Only Zimbabwe and Lebanon are ahead of Sri Lanka.