Unilever warns of further price hikes as costs of Marmite and Pot Noodles soar

Unilever, whose big brands range from Pot Noodles and Persil to Bovril and Brut, has already hiked prices by more than 8% in the first three months of this year to offset rising costs

Supermarket
Brits are seeing their grocery bills soar

The maker of Marmite has joined the tide of big companies warning of further price hikes.

Unilever, whose big brands range from Pot Noodles and Persil to Bovril and Brut, has already hiked prices by more than 8% in the first three months of this year to offset rising costs.

It said today: “This period of unprecedented inflation requires that we take further pricing action.”

Unilever CEO Alan Jope added: “We are very aware of the pressure on consumers. We believe that price increases are the right reaction to this extreme raw material cost pressure.”

Get the latest news in your inbox. Sign up for the free Mirror newsletter







The cost of Marmite will skyrocket
(

Picture:

Tim Happy)

A host of other food and beverage makers, from KitKat maker Nestle to warehouse maker Heineken, have announced further price hikes to recoup increases in everything from energy to labor costs.

Success for shoppers depends on how much of it is passed on by supermarkets and others.







Pot noodles could also become more expensive
(

Picture:

internet unknown)

London-based Unilever said it expects costs to rise by £1.8bn in the first half of this year and £2.3bn in the second, partly because of the Russian war in Ukraine.

Warren Ackerman, an analyst at Barclays, said Unilever’s costs would quadruple from last year, adding: “This is not the peak.”

Our team of cost of living experts are here to help YOU through a very difficult year.

They bring you the latest money news and also offer expert advice.

Whether it’s skyrocketing utility bills, the cost of weekly groceries, or increased taxes, our team is always by your side.

Every Thursday at 13:00 they participate in a Facebook Live event to answer your questions and offer their advice. Visit facebook.com/dailymirror/live to watch. You can read more about our team of experts here.

If you have a question – or want to share your story – please email webnews@mirror.co.uk.

Unilever has been impacted by rising prices for soybean oil, grain and other foods used in products from Hellmann’s ketchup to Knorr bouillon cubes.

The company increased prices in Europe for retailers and others by 5.4% in the first three months of this year.

Continue reading

Continue reading

https://www.mirror.co.uk/money/unilever-warns-more-price-rises-26826425 Unilever warns of further price hikes as costs of Marmite and Pot Noodles soar

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button