Consumers pay more as Nestle, Unilever beat Q1 sales forecasts

Unilever Plc and Nestle SA posted better-than-expected sales in the first quarter after pushing up prices to counter surging commodity costs.

- Bloomberg

Both companies, which lost market share due to inflation during the pandemic, said customers will have to take some of the pain as a global trade war and surging commodity prices lift their costs again.

"We are trying to take as much price as we can to cover our costs while being mindful of the consumer response in a competitive environment," Nestle Chief Executive Officer Laurent Freixe said on a call with journalists.

Soaring costs