The world's biggest food company says prices will rise further this year

The maker of Nescafé coffee and KitKat chocolate bars increased prices by 8.2% in 2022, but said this was not enough to offset a rise in its own costs, which had dented its profits.

Unilever, Coca-Cola, Heineken, Colgate-Palmolive and Procter & Gamble, which makes Pampers diapers and Pantene shampoo, have all flagged further increases in the prices of their goods this year, as they grapple with elevated commodity, energy and labor costs. Food, including ice cream, will see significant price increases in 2023, CEO Alan Jope said on the same call.

Heineken, meanwhile, said it expected to sell less beer in Europe this year because of "steep" price increases related to energy costs.– Graeme Pitkethly, Unilever chief financial officer On Thursday, Nestlé's Schneider would not be drawn into specifics on the company's talks with retailers but acknowledged that "intense negotiations are taking place."As a result of disputes over pricing in the past year, some branded products have been removed from shelves for short periods.

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The world's biggest food company says prices will rise further this year | CNN BusinessNestlé, the world's largest food group, says the price of staple items will rise further this year, adding to a string of warnings from consumer giants of more pain to come for stretched households. Because they realized they can no longer use child slavery and might have to pay a higher wage? This is utter bullshit. Record profits for these companies but they have to raise prices? GTFOH. Stealing my shit for now on. Brutal. How much is too much. Come on man. I will not to support them.
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STOCK MARKET NEWS: PPI due, Cisco rises, Shopify fallsProducer prices are anticipated to jump 5.4%, down from December's spike. Nestle's full year profit misses forecasts. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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