Nestlé increased its prices by 7.5 per cent in the first nine months of this year, the biggest amount in decades, enabling the world’s largest food manufacturer to raise its forecasts for the year.
The maker of Maggi noodles, Kit Kats and Nespresso capsules said it expected full-year sales growth of 8 per cent, the higher end of the range it had previously signalled.
The Nestlé price rises are the latest sign of intense pressure on food costs. Official UK data published on Wednesday reported that food prices rose 14.6 per cent in the year to September.
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