Nestlé SA predicted on April 21 that more price increases will be required in the future amid rising inflation levels.
The Swiss multinational food and drink company increased pricing for its products by 5.2 percent in the first quarter of 2022, helping to produce organic sales growth of 7.6 percent and beating analysts’ expectations of 5.1 percent.
“In these first months of the year, the war in Ukraine has caused unspeakable human suffering,” Mark Schneider, Nestlé CEO, said in a statement. “Amid this challenging environment, we delivered strong organic sales growth” with resilient real internal growth, he said.
“We stepped up pricing in a responsible manner and saw sustained consumer demand. Cost inflation continues to increase sharply, which will require further pricing and mitigating actions over the course of the year. ”
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