NESTLÉ has become the latest company to warn of more price increases to come as cost inflation in its supply chain bites.
The company, which owns everything from KitKat to Nespresso coffee machines, said today it had hiked prices by an average of above 5% in the first quarter of 2022 and warned of more price rises to follow.
CEO Mark Schneider said: “Cost inflation continues to increase sharply, which will require further pricing and mitigating actions over the course of the year.”
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