September 26, 2018 / 5:55 PM / 8 months ago

Nestle CEO expects to hike prices in coming years

Nestle Chief Executive Mark Schneider attends the opening of the 151st Annual General Meeting of Nestle in Lausanne, Switzerland April 12, 2018. REUTERS/Pierre Albouy

ZURICH (Reuters) - Nestle (NESN.S) hopes to be able to pass on rising costs resulting from higher inflation in Western countries in coming years.

“It’s a matter of time, suppliers and producers will have to pass on rising input costs sooner or later,” Chief Executive Mark Schneider said at an event in Zurich on Wednesday, pointing to a rise in input costs of wages, raw materials and energy.

Prices could begin rising in 2019 or 2020, barring any changes in the interim, he said.

Reporting by Angelika Gruber; writing by Brenna Hughes Neghaiwi; Editing by Kirsten Donovan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below