Nestlé is the maker of many food products you have in your every day diet. KitKat bars, Nescafé coffee, Uncle Tobys oats...even Allens lollies!
Background: Nestlé is the maker of many food products you have in your every day diet. KitKat bars, Nescafé coffee, Uncle Tobys oats...even Allens lollies 🤤
What happened: Earlier this year, Nestlé raised the prices on many of its products. Why, you may ask? Well, inflation has increased the cost of making their goods...so they’re passing it onto their customers. Rude, if ya ask us.
What else: Some were concerned the inflated prices could impact sales. Nuh-uh. Nestlé announced that it actually increased its full-year sales target because it outperformed expectations. Who'd a thunk it!
💡Inflation is the rise in the prices of goods and services. Ya know, a rise in groceries, furniture and clothes. That humble sausage roll ain't $1 anymore. We're talking $3 to $4 minimum (don't even get started on the gourmet ones).
💡Each year, the inflation rate is aimed to sit between 2-3%. But when there's a global pandemic and trillions of dollars are pumped into the economy...it ain't that simple.
💡As a result, the inflation rate in the US has jumped to 5.4% - which affects the cost of raw materials, supply chain costs and ultimately affect the price of products.
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