Unilever price hikes to continue after record rise
STORY: Unilever said Thursday (February 9) it would continue to hike prices in 2023, after raising them more than 13% in the last three months of 2022.
The London-based company, which makes products like Fairy washing-up liquid, Dove soaps and Marmite, expects cost inflation to continue in the first half of the year.
But it said it then plans to ease off price hikes in the second half of the year.
The UK consumer goods company reported a forecast-beating underlying sales growth of 9.2% in the fourth quarter of 2022, despite a drop in the volume of goods it sold.
Unilever originally lifted prices in 2022 due to the surging costs of ingredients, while the industry battled supply chain issues affected by the health crisis, and Russia’s invasion of Ukraine.
It also had a dramatic year internally, featuring three rejected bids to buy GSK's consumer health business, and changes to its board and leadership.
Unilever shares were up 0.5% at lunch time.
