Nestlé Skyrockets Prices by 9.8 Percent Amid Worldwide Inflation

Daily Wire: Nestlé, the largest food and drink company in the world, raised prices by a collective 9.8% in the first three months of the year as inflationary pressures increased input costs for the business. The Swiss conglomerate, which owns a variety of food brands such as Purina, Gerber, Nescafe, and KitKat, said in an earnings report that the price increases in several markets across the world came as a result of “significant cost inflation.” The firm’s Latin American and North American markets saw 13.4% and 12.4% price hikes respectively, while the European market saw a 10.7% price increase and the Chinese market saw a 3.9% price increase (Daily Wire).  CNBC: It comes as consumers struggle with sharply higher prices of food, household basics and beyond. While year-on-year headline inflation has cooled to 2.9% in Switzerland, it remains at 6.9% in the euro zone and 10.1% in the UK (CNBC).