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The prices of Nestlé products, the multinational food and beverage company, rose 5.2% globally, in the first quarter of the year, as a result of inflation in the United States and around the world.
In its first quarter earnings report, the Swiss-based company announced that North American consumers were the hardest hit, after its products registered an increase of 8.5%.
Latin America was the second region where more product prices rose, with an increase of 7.7% in its basket of products; followed by Asia, Oceania and Africa, with 4.3%; and Europe, with 4.1%.
The CEO of the largest food company in the world, Mark Schneider said that “they have increased prices responsibly and have seen sustained demand from consumers.”
Schneiner said that he does not rule out more price increases in the short term: “Cost inflation continues to rise sharply and this will require further pricing and mitigation actions during the 2022”.
The increase in prices of the Swiss company’s products occurs in the midst of the rise in inflation worldwide. In the United States, consumer price inflation reached 8.5% in March, –a mark that seen for 40 years ago–, and in Europe, it stands at 7.5%, one of the highest levels in 04 years.
Schneider said that the war in Ukraine has impacted the rise in prices of products around the world. The prices of wheat and vegetable oils have risen as a result of the conflict.
The president of the World Bank, David Malpass, warned the BBC that there is a risk of a “human catastrophe” and that prices could rise to 37% as a result of the war in Europe.
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