Oct 21, 2021
Marmite and PG Tips maker Unilever warns of price rises
The company behind brands such as Marmite, PG Tips and Dove has said it will raise prices to cope with "Elevated levels" of cost inflation which it expects to continue next year. Consumer goods giant Unilever said it had already taken "Appropriate pricing action". Growth was supported by a 4.1% increase in prices while the volume of goods sold fell by 1.5%.On Wednesday, the Office for National Statistics said that the UK consumer prices index measure of inflation slowed to 3.1% in the year to September. Inflation is expected to accelerate in the coming months due to a rise in energy costs as well as continuing disruption to UK and global supply chains. Unilever's chief financial officer, Graeme Pitkethly, said: "We expect inflation to be higher next year than this year."
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