Unilever lifts sales outlook while shoppers cut spending

The maker of Knorr stock cubes, Unilever ramped up prices by 12.5% in Q3. Picture: Denis Minihane.

Unilever gave a dire assessment of consumer sentiment in Europe and China, two of its key markets, but raised its full year sales forecast as it lifted prices to counter soaring costs.

The maker of Knorr stock cubes now expects sales this fiscal year to increase more than 8%, up from a prior range of 4.5% to 6.5%, after reporting a better than expected third quarter.