NSRGY - Nestle eyeing further price increases in 2023
Nestle ( OTCPK:NSRGY ) is likely to hike prices on its products yet again in 2023, per comments made by CEO Mark Schneider to the German press.
The executive told the Frankfurter Allgemeine Zeitung that price increases will take effect again this year to “catch up” to cost increases. Labor and energy price increases are expected to impact the company throughout the year. The hikes are not expected to be as steep as those enacted in 2022.
Swiss-listed shares of the European food and drink conglomerate slipped 0.5% in afternoon trading.
Read more on Deutsche Bank’s recent upgrade of the stock .
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Nestle eyeing further price increases in 2023