The company behind some of the UK's favourite products has issued a warning to customers.
Nestlé, behind items such as Kitkats, Shreddies and Maggi noodles are telling consumers to expect prices to increase. The company also have a range of coffee and baby food brands in its 2000-strong portfolio.
This comes after their prices were raised by more than 5% in the first few months of the year. Chief executive of the Swiss food group, 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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However, he also said that Nestlé saw sustained demand from customers despite prices rising. Nestlé reported an increase of 7.6% in organic sales from January to March of this year, mostly caused by an increase in price and supply.
It said that pet-care products saw the largest price jumps in that time, of almost 8%. Mr Schneider said: “In these first months of the year, the war in Ukraine has caused unspeakable human suffering. We remain focused on supporting our colleagues there and providing humanitarian relief, while standing with the international community in the call for peace.”
Last month Nestlé said it had suspended the sale of non-essential brands in Russia, as well as halting advertising in the country to comply with international sanctions as a result of the country's invasion of Ukraine. At the time they said : "We stand with the people of Ukraine and our 5,800 employees there."
