Nestlé will raise its prices again

The Swiss group, owner of the KitKat and Nescafé brands, had already inflated its prices by 8.2% in 2022 but this was not enough to offset the rising cost of ingredients, such as coffee or dairy products.

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Regarding the outlook, Nestlé plans to increase its profit margin in 2023, continued Mark Schneider. The underlying operating margin should be between 17% and 17.5%. The food group is also aiming for sales growth of between 6 and 8% fueled largely by a further increase in prices, he said.