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Food transnational announces price hike


Food transnational announces price hike

Berlin, Feb 4 (Prensa Latina) Nestlé, one of the leading international food companies, today announced another price increase for its products in 2023 to compensate for higher production costs.

The company’s CEO, Mark Schneider, told the German media that the global increase in raw materials they are facing has not yet been fully passed on to consumers.

However, consumers across the world have already seen reinforced price growth for Nestlé products during 2022.

In fact, in the first nine months of last year, the world’s largest food group posted organic sales growth of 8.5 percent, of which price increases accounted for 7.5 percentage points.

In this regard, Schneider assured that they have to “catch up throughout the year2 with the current state of the food market.

The announcement is in tune with the behavior of inflation in many developed economies that has reached multi-decade highs, driven in large part by rising food and energy prices.


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