Nestlé, world's largest food company, hikes prices by 10% due to “significant cost inflation”
· Apr 25, 2023 · NottheBee.com

Recession? What recession?

You'll notice that the mainstream media couches the 10% price hike with "sweet" sales, since all that inflation is technically forcing people to give grocery companies record sales.

Nestle said sales of its confectionary worldwide increased in the past three months despite it increasing the prices of its more than 2,000 brands, which cover coffee, pet care, baby food, drinks, cereals and prepared dishes.

...

Nestle's global sales rose by 5.6% to 23.5bn Swiss francs (£21.3bn) in the first three months of 2023.

"Nestle's showing just how important it is to have a strong suite of brands, which have allowed the consumer giant to push through some pretty hefty price hikes with little impact on volumes," said Matt Britzman, equity analyst at Hargreaves Lansdown.

Translation: It's good to be a huge company that can afford to hike prices.

Too bad for the little guys!

The company said the price increases were due to "significant cost inflation." The collective price hike came to 9.8% globally, with prices rising 12.4% in North America, 13.4% in Latin America, 10.7% in in Europe, and 3.9% in China.

This trend is being seen everywhere. Per CNBC:

In January, Unilever CEO Alan Jope told CNBC the company had seen "extraordinary input cost pressure" across areas including agriculture, petrochemical-derived products, energy, transport and logistics. He also said he expected companies were "past peak inflation but not yet at peak pricing."

You think food is expensive now?

Just wait.


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