Nestle to hike prices again despite 8.2% increase last year

KitKat maker Nestle has announced it will raise prices again this year, after an 8.2% increase in 2022. The firm said it would be forced to charge more to cover the increasing cost of ingredients, but has not yet revealed how much prices will increase. Its CEO Mark Schneider said the company saw its profits drop by 45% because of the “many challenges and tough choices for families, communities and businesses”.