Annual shop price inflation jumped to 4.4% this month, the highest rate since the BRC and Nielsen IQ shop price index began in 2005. Food prices have generally increased by 7% since the war in Ukraine began.
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The owner of Ben & Jerry’s, Unilever, warned yesterday (Tuesday) that they are not done yet with price increases for consumers, this after the company raised prices by 11% in the second quarter compared to the year before. Soft drink giant Coca-Cola also admitted that it raised its average prices by around 12% in the second quarter, according to Reuters.
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After the global corona crisis, Coca-Cola reported an 8% increase in sales. Coca-Cola global boss James Quincey has admitted the brand will raise prices further in markets where costs have increased, ahead of a possible recession.
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