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After raising prices 5.2 percent in this year’s first quarter, international food conglomerate Nestlé reported a 7.6-percent gain in sales for the period, beating analysts’ forecasts.
The company hiked prices most in the Americas, raising them 8.5 percent in North America and 7.7 percent south of the U.S. border.
“We stepped up pricing in a responsible manner and saw increased consumer demand,” CEO Mark Schneider told the Financial Times, adding that it would raise consumer prices again this year.