Business

Heinz raises prices of canned food as families face higher shopping bills

Heinz reported an increase in the price of canned foods, caused by soaring operating costs. Nestle also warned of an increase in addition to the 3.1% increase they gave at the end of last year

Baked Beans Heinz
Heinz announces the price of canned food will increase

Parking stalls Heinz raised the price of their canned food, blaming soaring operating costs.

Families struggling to make ends meet face even higher shopping bills as the grocery giant plans to raise prices for a second time in a few months after prices rose 3.8% last year.

In another shot, Nestlé – which owns brands including KitKat, Quality Street and Shreddies – has also warned of an increase in addition to the 3.1% increase it made late last year.

Today, Reckitt Benckiser, the owner of Durex and Dettol, which shares the same misery with the same bad news, said that they are facing rising costs, from wages and transportation to the price of plastic and oil.






Nestle has also warned prices may increase

Heinz’s parent company Kraft Heinz said net sales fell 3.3 per cent to £4.93 billion last year, although analysts said the results were better than expected.

CEO Miguel Patricio said they were “creating efficiency” to “minimize inflationary pressures”.

“There is a safe assumption that our input costs increase for 2022 will be higher than 2021, which is something we must reflect in our pricing,” said Nestle CEO Mark Schneider. mine”.

And Jeff Carr, chief financial officer of hygiene and wellness company Reckitt, which makes Harpic, Finish, Vanish and Nurofen, said costs had increased “widely”.

The cost of living has hit a 30-year high with inflation at 5.5% and families facing soaring fuel bills as the upper limit on energy prices falls in April.

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https://www.mirror.co.uk/money/heinz-hikes-prices-tinned-food-26261293 Heinz raises prices of canned food as families face higher shopping bills

Fry Electronics Team

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