Grocery giant Unilever sees consumer backlash worsening on rising prices

Unilever's chief executive, Alan Jope, said: “We are now probably past peak inflation, but we’re not yet at peak prices.”
Grocery giant Unilever sees consumer backlash worsening on rising prices

The maker of Hellman's, Knorr, Cif, Domestos, Sunsilk, Persil, and Ben & Jerry’s ice cream, will keep raising prices because it has only passed off three-quarters of its higher costs onto consumers, chief executive Alan Jope said.

Unilever, grocery and foods giant, said consumers may buy fewer of its products this year as they baulk at price increases on items like Dove soap and Hellmann’s mayonnaise.

Sales growth will probably weaken this year from last year’s 9% pace, the company forecast, while Unilever also reported its weakest operating margin in at least seven years.

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