Unilever warns on inflation -- it is not over yet
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Loading... - Groen Daan
- 09 Feb 2023
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The cost of basic foodstuffs and other kitchen staples will keep rising for at least another six months, consumer goods giant Unilever warned today.
In a clear sign that the battle against inflation is not yet won, the maker of everything from Hellman’s mayonnaise to Dove soap and Domestos bleach said price increases that will exacerbate the cost-of-living crisis are far from over.
That’s a blow to central bankers and politicians who have been signalling that inflation has peaked and that interest rates could soon stop rising.
Unilever, which today reported a 14.5% jump in sales for 2022 to e60.1 billion, said that while inflation is tempering, there are most cost increases to come this year, especially in the first half.
Finance chief Graeme Pitkethly said: “Pricing will start to moderate, there will be lower rates of increase. I think we are probably past peak inflation but not past peak price increases.” Read More…
