The world’s top consumer goods and food companies are warning that further price hikes are scheduled for next year to cover escalating production costs.
Leaders in the industry, including Coca-Cola, Procter and Gamble, Nestle, and Reckitt, say that shoppers remain reluctant to splurge on groceries.
This warning comes as these companies face a dual crisis of skyrocketing war costs and sluggish sales.
The latest financial strain builds on pandemic-era struggles, while inflation weary shoppers continue to skip pricey, name-brand packaged products.
–SABC–
