KitKat maker Nestle puts up prices again

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There have been "unprecedented" increases in costs that have led to a price hike by the company.

In the first half of the year, the company increased prices by 6.5%.

McDonald's and Coca-Cola raised their prices.

Consumer prices in the UK are rising at their fastest rate in 40 years, as companies face increased costs for fuel, wages and ingredients.

In the last three months of the year, the prices of some of the company's products were increased.

Mark Schneider said price increases were done in a responsible way.

Disciplined cost control and operational efficiency allowed us to limit the impact of inflationary pressures and supply chain constraints on our margin development.

The price rise in Europe was 4.9%, while in North America it was 9.8%.

In the first half of the year, organic sales rose by 8.1%. The firm raised its forecast for organic sales growth.

The fall in net profit was due to higher taxes and write-offs of property and equipment in Russia.

The invasion of Ukraine led to the withdrawal of popular brands from Russia. Baby formula and medical nutrition products are still sold there.

Job vacancies are near record highs and some firms are having to raise wages to attract and keep staff. Pay increases don't keep up with the cost of living.

McDonald's said on Wednesday that it was increasing the price of its cheeseburger in the UK from 99p to $1.19.

Coca-Cola said its global prices had gone up by about 5%.