Nestle to Hike Food Prices Further in 2023, CEO Says

Nestle to Hike Food Prices Further in 2023, CEO Says
A Nestle company logo on a bar of Milky Bar chocolate in Manchester, Britain, on April 25, 2017. Phil Noble/Reuters
Reuters
Updated:

Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper.

The increases will not be as steep as they were in 2022, but “we have some catching up to do over the full year,” Schneider was quoted as telling Frankfurter Allgemeine Zeitung in an interview.