Nestlé, 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. 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.
Likewise, Nestlé reported a drop in sales volumes in the second half of last year and said it was partly driven by pricing. Heineken, meanwhile, said it expected to sell less beer in Europe this year because of “steep” price increases related to energy costs. As shoppers try to keep grocery bills down, retailers’ own brands may be the winners. Walmart\n \n , for example, has seen strong growth in its private label sales, and that trend is extending to retailers in Europe.
The fleecing continues.
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.
Because they realized they can no longer use child slavery and might have to pay a higher wage?
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