The products of this company will become more expensive. The increase is intended to offset higher production costs.

Nestlé CEO Mark Schneider told the Frankfurter Allgemeine Zeitung newspaper that the company is forced to raise product prices to compensate for rising production costs. The company assures that the growth will not be as sharp as last year.

Nestlé will raise prices. This will pass the cost on to customers.

Nestlé is one of the largest food groups with brands such as Maggi, KitKat and Nescafé in its portfolio. In the first nine months of 2022, organic sales growth was 8.5 percent, of which price growth was 7.5 percentage points.

Inflation in many developed countries is at its highest level in decades, largely due to rising food and energy prices.

Another increase for Nestlé

The massive increase in Nestlé products planned for 2023 is another price hike. In the summer of 2022, the company raised prices by 6.5 percent. due to the highest cost growth in four decades. Almost 5 percent. In 2017, food prices in Europe rose, while in North America they rose by as much as 9.8 percent.

Recall that in March, Nestle announced the suspension of investments in Russia in connection with the attack of this country on Ukraine. The company has decided to retire its popular merchandise, but still sells staples such as baby food and health food.

McDonald’s announced a price increase last year. For the first time in almost 15 years, the price of the iconic cheeseburger will rise. In the UK, its price will rise from the current 99p to £1.19. 5% price increase on average. also announced representatives of Coca-Cola. These increases are in response to rising fuel prices, higher wages or more expensive ingredients.