Nestlé increased prices in the second quarter. The cost of many products is passed on to customers in the face of inflation. Nevertheless, customers continued to buy products such as Nespresso capsules, Purina cat food and San Pellegrino water. As a result, organic growth of 8.1 percent was achieved, as the Swiss group announced on Thursday. Of this, 6.5 percent was attributable to passing on the rising costs to customers. The remainder of the growth came from sales volume. Overall, sales rose by 9.2 percent to 45.6 billion Swiss francs (46.7 billion euros). The bottom line was that profits fell to CHF 5.2 billion due to higher depreciation and taxes. Nestlé follows competitors Unilever, Danone and Reckitt Benckiser in raising prices, all of which raised their sales forecasts this week, citing continued demand for more expensive branded items.
Food – Nestlé raises prices – Economy
