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The Economic Times

Nestle CEO says Middle East conflict driving inflation, higher supplier costs

Nestle Philipp Navratil Inflation India

CACAPAVA, Brazil/LONDON: Nestle is raising prices, reformulating products and cutting items consumers are unwilling to pay more for as it tackles the effects of higher energy, freight and raw material costs following the conflict in the Middle East, CEO Philipp Navratil told Reuters on Wednesday.

While the world's biggest packaged food maker has seen little direct impact on sales from the six-month-old U.S.-Israeli war against Iran, Navratil ‌said the ⁠conflict was contributing ⁠to inflationary pressures faced by suppliers.

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