-- Nestle hasn't been able to fully pass on its excess costs, and will therefore further increase prices, Chief Executive Ulf Mark Schneider said in an interview with the German paper Frankfurter Allgemeine Zeitung on Sunday.

-- How hefty the increase will be depends on how labor costs and energy costs develop, the executive said.

-- Nestle has seen labor and energy expenses rise in many of its markets, and its gross margin has dropped by about 3% from the end of 2020 to mid-2022, according to Mr. Schneider.

Full story in German: https://bit.ly/3X7DUfq

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

February 06, 2023 03:45 ET (08:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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