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Major food producer increased prices by 10% in first three months of 2023

Just in case you think inflation is a thing of the past, one of the world’s largest food and drink providers increased the prices of its products by 9.8% during the first three months of 2023, the Daily Wire reports.

This is a huge increase as is the company that did it, the Swiss-based conglomerate, Nestlé, which includes several other brand names, Nescafe, Purina, KitKat and Gerber. The corporation cited, “significant cost inflation,” as the reason for the price rises.

The prices increases varied around the world. The company’s prices were raised 3.9% in Communist China, 12.4% in North America, 13.4% in Latin America and 10.7% in Europe.

READ: World’s Largest Food Company Hikes Prices Nearly 10% In Just Three Months Due To Inflation Pressures

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