Oct 21, 2021

Unilever raises prices as inflationary pressure bites

Unilever pushed up prices for its products by more than 4 per cent in the third quarter as the global consumer goods group battled input cost inflation that it warned would worsen next year. Unilever is among many consumer goods groups to accelerate price rises in the second half of the year. Its increases were greater than those reported by rival foodmaker Nestlé, which said on Wednesday it had lifted prices 2.1 per cent in the third quarter. Procter & Gamble is also increasing prices after forecasting $2.3bn of extra commodity and freight costs for the year. Alicia Forry, analyst at Investec, said Unilever's pricing push was "Proof that the company can price to protect its margins - which is a good thing in the current inflationary environment".

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