Nestle has issued a warning to consumers that more price rises could come into effect in a bid to tackle cost inflation. The KitKat and Shreddies maker had already increased prices by more than 5 per cent over the first three months of 2022 and may see further hikes
Mark Schneider, chief executive of the Swiss food group, said: “Cost inflation continues to increase sharply, which will require further pricing and mitigating actions over the course of the year.”
He added that Nestle saw a balance in continued customer demand regardless of the price increases. It reported an increase in organic sales by 7.6 per cent over the three months to march which was driven by a 5.2 per cent increase in pricing and a 2.3 per cent rise in volumes.
