The producer of KitKat and Nescafe ‘Nestle’ has warned that, the company is going to be increasing the prices of the products of the company because of the increasing cost of the production of the good of Nestle.
Mark Schneider, head of Nestle said, it had been a safe assumption that, the prices are going to be increasing in the year 2022, and he said that, there had been no place in the company that had been exempting of the inflation. Reckitt, a company behind the brands like Dettol and Durex also said that, the prices of the products are going to be increasing and the company also said, it is hoping to absorb most of the increase in the prices.
The costs of the products of Reckitt has been increased by 11 percent in the year 2021, but Laxman Narasimhan, chief executive of Reckitt said, this will not mean that, the prices increasing by that amount as the company is having many ways for managing and mitigating the pricing of the products, and he also said that, they are now caring about the competitiveness of the brands of the company.
Jeff Carr, chief financial officer of Reckitt said, the costs of the company has been increased across the board and the increase in the prices is ranging from the plastic to the crude oil and also to the wages and shipping. He also said, the company had also been absorbing a significant part of the higher operating costs through the efficiency.
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