CEO says Nestle to hike food prices further this year, Reuters reports

Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper, Reuters reports. The increases will not be as steep as they were in 2022, but "we have some catching up to do over the full year," Schneider was quoted as telling Frankfurter Allgemeine Zeitung in an interview due for publication on Sunday. Reference Link