Global food giant issues grim warning ...News

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Global food giant issues grim warning
Nestle expects prices for staple items to keep on rising in 2023 The world’s biggest food corporation, Nestle, has said prices for staple items would continue to grow during 2023, after more than a year of price increases that have forced the ordinary consumer into an ongoing struggle to buy groceries. The giant increased prices by 8.2% last year, but says this was not enough to offset a rise in its own costs that had substantially dented profits. According to Nestle CEO Mark Schneider, Nestle's price increases, which are expected to vary by market and category, will be “very targeted” and will only be implemented

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