[Source: BBC]

KitKat maker Nestle has put up its prices again due to “unprecedented” increases in costs.

The Swiss food giant said it had increased prices by 6.5% in the first half of this year.

McDonald’s and Coca-Cola also announced price rises this week.

Companies are facing increased costs for things such as fuel, wages and ingredients, and consumer prices in the UK are rising at their fastest rate for 40 years.

Nestle, which also makes Cheerios and Smarties, had already increased prices by 3.1% in the last three months of 2021.

Chief executive Mark Schneider said price increases were implemented “in a responsible manner”.

“We limited the impact of unprecedented inflationary pressures and supply chain constraints on our margin development through disciplined cost control and operational efficiencies,” he added.

Price rises were highest in North America, at 9.8%, compared with 4.9% in Europe.