The chief executive of the world's biggest food group says it will lift prices again this year after more costly ingredients helped push its 2022 profit below market forecasts.
abc.net.au/news/nestle-boss-says-food-prices-will-keep-rising/101989230Nestle, the world's biggest food group, is set to lift the price of its products again this year, after more costly ingredients helped to push its 2022 profit below market forecasts.Producers have increased prices due to surging costs for raw materials after Russia's invasion of Ukraine and supply issues
That is bad news for consumers, whose spending power has already been hit by inflation at multi-decade highs. Unilever said last week it would continue to raise prices for its detergents, soaps and packaged food to offset rising input costs, but would ease those hikes in the second half of 2023.
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