Nestlé boss warns shoppers to expect more price increases

Until now, consumers have absorbed higher prices — but inflation has seen Nestlé's sales ease back 0.2% in Q3

Nestlé CEO Ulf Mark Schneider said: 'We are seeing huge upward pressure on energy, some of the agricultural commodities, and also transportation costs.' File picture: Fabrice Coffrini/AFP/Getty

Nestlé chief executive Ulf Mark Schneider said inflation will remain an issue in 2023 even after the world’s largest food maker pushes through the biggest price increases in decades this year. 

“This is a situation no one wished for,” Mr Schneider said in an interview.