Consumers around the world are about to get socked with even higher prices on everyday items, companies from food giant Unilever PLC to lubricant maker WD-40 Co. warned this week as they grapple with supply difficulties.
The maker of Dove soap and Magnum ice-cream bars jacked up prices by more than 4% on average last quarter, the biggest jump since 2012, and signaled elevated pricing will continue into next year. A similar refrain came from Nestle SA, Procter & Gamble Co. and Danone SA, whose products dominate supermarket aisles and kitchen cupboards.
"We’re in for at least another 12 months of inflationary pressures,” Unilever CEO Alan Jope said in a Bloomberg Television interview. "We are in a once-in-two-decades inflationary environment.”
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.