Nestle says it’s raised prices by 10% this quarter


Cheerios, Nescafe, Nesquik, KitKat, Milkybar and Purina products, manufactured by Nestle SA, arranged in London, U.K., on Monday, July 26, 2021.

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Consumer goods firm Nestle raised prices by 9.8% in the first quarter, attributing this to “significant cost inflation.”

The Switzerland-based company on Tuesday reported sales revenue up 5.6% in the three-month period, coming in at 23.5 billion Swiss francs ($26.49 billion), slightly ahead of an analysts’ consensus estimate.

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But sales volumes, listed as “real internal growth,” fell 0.5%.

The company raised prices by 8.2% last year, and saw sales volumes up by 0.1%.

It comes as consumers…

Source cnbc.com

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