Nestle hiking chocolate prices of brand favourites

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Nestle has announced it is hiking the price of its chocolates in time for Christmas.

The move comes as households up and down the country struggle to cope with the rising cost of living.

While the tasty treats may be non-essential, purchasing any of Nestle’s products will now cost you more money.

Nestle’s top-selling products include After Eight, Quality Street, as well as favourites such as Smarties, KitKat, Aero, Toffee Crisp, Yorkie, and Munchies, reports Nottingham Live.

Back in April 2022 steep cost inflation was reported to be blamed for potential price rises for the brand’s cereals and confectionary.

At the time, Mark Schneider, Nestlé CEO, said: “Cost inflation continues to increase sharply, which will require further pricing and mitigating actions over the course of the year.”

It appears that we are now seeing the effects of rising inflation and other global factors.

In October, Nestle reported its nine-month sales for 2022.

It stated that: “Organic growth reached 8.5 per cent. Pricing was 7.5 per cent reflecting significant cost inflation. Real internal growth (RIG) was resilient at 1.0 per cent.

“Organic growth was broad-based across most geographies and categories.”

Talking about the 7.5 per cent rise in prices during this time, Schneider said: “We delivered strong organic growth as we continued to adjust prices responsibly to reflect inflation.

“The challenging economic environment is a concern for many people and is impacting their purchasing power.

“That’s why we aim to keep products affordable and accessible while considering the interests of all our stakeholders.”

Last month, Nestle revealed changes to its Quality Street packaging, stating that the iconic shiny wrappers in its sweet selection would be turning to paper wrappers with a view to being more sustainable.

Fans soon made their feelings known on the topic with one person even claiming “Christmas is ruined”.

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