Nestlé to increase prices again despite upsurge in 2022
KitKat maker, Nestlé will increase its prices again this year despite an 8.2% increase in 2022 to cover the increasing cost of ingredients.
Nestlé, which also makes Buitoni pasta, Buxton mineral water and Nescafe coffee said it was taking a “massive” hit to its margins at the moment.
CEO of Nestlé, Mark Schneider said the company suffered “many challenges and tough choices for families, communities and businesses” which led to lower spending on many of the firm’s products in 2022.
As a result the company will spend 2023 with a focus on restoring their gross margin.
Nestle sells more than 2,000 brands covering coffee, pet care, baby food, drinks, cereals and prepared dishes.
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