The Swiss food giant said it had increased prices by 6.5% in the first half of this year. Nestle, which also makes KitKat and Smarties, had already increased prices by 3.1% in the last three months of 2021.
Ice cream maker Ben & Jerry’s parent organization, Unilever, warned Tuesday (July 26, 2022) that they are not done yet with consumer price increases after the company raised prices by 11% in the second quarter compared to the year before.
Soft drink giant Coca-Cola also admitted that it raised its average prices by around 12% in the second quarter, while South African restaurant chain Nando’s has increased prices by as much as 8%.
McDonald’s also bumped the price of a cheeseburger for the first time in 14 years, hiking it by 20%. Other products --such as McNuggets, breakfast meals, large coffees and some burgers -- will rise by between 10% and 20% over the coming weeks.
The average price of Tyson Foods’ products rose 17.6% in the first quarter, compared with the year earlier, with Tyson pork jumping 10.8%, chicken up 14.4% and beef soaring 23.8%.