KitKat maker Nestle hikes prices by almost 10% in past year
KitKat maker Nestle has hiked the prices of its products by almost 10% in the past year to offset a "significant" rise in costs.
The rate of grocery price increases slowed slightly in April, but consumers are still paying 17.3% more than this time last year, Kantar said. Many households are feeling the impact of rising prices in recent months, and inflation is also hitting the margins of businesses. Nestle said sales of its confectionary worldwide increased in the past three months despite it increasing the prices of its more than 2,000 brands, which cover coffee, pet care, baby food, drinks, cereals and prepared dishes.
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