Unilever sales beat estimates even as price rises slow

Unilever (ULVR.L) smashed quarterly sales forecasts on Thursday as another big rise in prices from the maker of Dove soap and Ben & Jerry’s ice cream triggered only a small dip in volumes, sending its shares up nearly 2% in early trade. The 10.7% increase in prices was, however, lower than in recent quarters, adding to signs inflationary pressures might be easing as input costs declined. Packaged goods companies have been hiking prices as they grapple with a surge in costs of everything from sunflower oil and shipping to packaging and grain. Unilever reported a 10.5% rise in underlying first-quarter sales to 14.8 billion euros ($16.4 billion), beating analysts’ average forecast for a 7.2% increase, according to a company-provided consensus. That included a 10.7% increase in prices and a 0.2% dip in volumes. Price growth was slower versus the previous two quarters, and down from a record 13.3% reported in February, while the decline in volumes improved from the 3.6% drop posted at that time.

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