This may include adverts from us and 3 rd parties based on our understanding. The price of everyday goods is expected to rise as brands warn they are struggling to cope with rising inflation. Consumer giant Unilever has warned it will hike the prices of some of the nation s most beloved products, saying rising wholesale costs are also to blame.
Bottleneck supply chain issues have occurred as parts of the world emerge from the coronavirus pandemic. The UK is particularly affected by post-brexit trade and immigration rules. While the consumer prices index CPI measure of inflation has actually slowed to 3.1 percent in the year to September, it is expected to rocket again over the coming months. The cost of the ongoing energy crisis has had a crippling effect on businesses. How long will the energy crisis last? Expert reveals high price.
Unilever CEO Alan Jope said: We have and will continue to respond across our categories and markets, taking appropriate pricing action and implementing a range of productivity measures to offset increased costs. We continue to expect that we will deliver in line with our margin guidance of around flat for the full year. Graeme Pitkethly, chief finance officer of the group, said the business has been experiencing logistics challenges in Europe. He said: In the UK and Ireland, there have been many challenges to manage and there has been a lot of work in planning. We've had to work hard with logistics to ensure supply and on-shelf availability of products, where we have seen improvement. Why EU is at risk of collapsing 'brick by brick' - Brussels could sue But consumer goods giants such as Nestl and Procter Gamble, already warned last month they will be forced to increase their prices as the issues persist. Higher transport and energy costs have affected Nestl as well as other consumer giants, with Unilever confirming this week that prices have risen by 2.1 percent. Elsewhere, McBride, which supplies most British supermarkets with their private label cleaning products, had already raised prices over the summer but has now confirmed it will have to do so again for the same reasons as Nestl and Unilever.