Unilever Hikes Prices Fastest In Nearly a Decade Amid Inflationary Pressure: Report

Unilever Hikes Prices Fastest In Nearly a Decade Amid Inflationary Pressure: Report
Bottles of "Zigeuner Sauce" (Gipsy Sauce) by German food maker Knorr are on display at a supermarket in Berlin on August 17, 2020. - German food maker Knorr said Monday it would change the name of its popular "gypsy sauce" to something less offensive, becoming the latest global company to respond to complaints about racist branding. The so-called "Zigeunersauce" (German for gypsy sauce) will soon be sold as "Hungarian-style paprika sauce", Knorr's parent company Unilever said in a statement sent to AFP. (Photo by John MACDOUGALL / AFP) Photo by JOHN MACDOUGALL/AFP via Getty Images
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Unilever announced on Thursday that it has hiked up prices to cope with rising supply chain costs, and warned that inflationary pressures would linger for at least a further year, as economies recover from the pandemic.

The British multinational consumer goods company that makes Dove soap and Knorr soup said that in the third quarter it increased prices by 4.1 percent to “offset rising commodity and other input costs.”

Isabel van Brugen
Isabel van Brugen
Reporter
Isabel van Brugen is an award-winning journalist. She holds a master's in newspaper journalism from City, University of London.
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