11:28 - 20.02.2023

---

February 20, Fineko/abc.az. Nestle CEO Mark Schneider said that basic food products will also become more expensive this year.

ABC.AZ reports, referring to the foreign media, that Schneider explained that the variability of the level of food inflation will contribute to this.

According to Nestle CEO, the largest companies in the food market are now continuing to recover their gross revenues.

At that, not only consumers, but also businesses suffered from food inflation. The companies are currently trying to compensate for the damage caused to them, Schneider added. Thus, despite the 8.2% increase in the cost of Nestle products last year, these measures were not enough to compensate for the costs.