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Nestle announces price increase on selected products

Nestle, the worlds largest food group, has announced a price increase in selected products.

Head of Corporate Communications Siti Jones Gordon confirmed Nestle will increase prices on some locally and imported products but did not identify which ones.

She said the price increase percentages would average in single digits.

Nestle blamed the price hike on global increases in transport, supply chain, raw and packaging materials, which includes the well-known surge on commodities.

The food-processing conglomerate is the latest company to raise prices on food items.

Last week National Flour Mills announced an increase in wholesale flour prices.

The move triggered other companies to adjust the price of their products.

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