Nestle reported slightly better-than-expected first-quarter sales as the world's biggest packaged food company hiked prices to offset its tepid sales volume
have raised prices sharply for the last two years to battle rising commodities and supply chain costs that squeezed margins during the pandemic and only grew worse when Russia's invasion of Ukraine sent energy expenses to record highs.
Some shoppers - particularly those in Europe - have balked at the higher prices, prompting lower sales volumes across the industry as people bought less or traded down to cheaper brands. To be sure, many consumer companies are still seeing resilient demand for their products, especially from U.S. shoppers.
Rival Unilever, which posts results later this week, said earlier this year the industry was past "peak inflation, but not yet past peak pricing."a 10% increase in average prices across its categories during the quarter, and a 3% decline in volumes.consumer goods companies should start easing price increases as supply chain costs decline, worried that further hikes could hit market share and margin growth.
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