We aren’t at ‘peak prices’ yet,’ warns CEO of consumer goods giant Unliever
That was the head of global consumer goods giant Unilever, Alan Jope, commenting on the state of inflation in the world right now, in an interview with CNBC at the World Economic Forum in Davos, Switzerland on Tuesday.
Jope said Unliever has had to push through more price increases, though he notes consumers appear “very resilient” for now in terms of softness on volumes. The company behind Dove and Ben & Jerry’s raised prices by 12.5% in the third quarter — reportedly its largest ever hike — though with little hit to sales volumes. The group lifted its 2022 revenue forecast at the same time.
He said the group knows “for sure there’s more inflationary pressure coming through in our input costs,” but the rate of price increases have likely peaked for now.At the time of third-quarter earnings, inflation in the eurozone and the U.S. was running at about 10% and 8%, respectively. In December, the EU rate slowed to 9.2%, while U.S. consumer prices fell to 6.5%, the sixth straight month of declines.
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