Unilever, the company behind well-known supermarket brands such as Andrélon, Cif and Calvé, expects to further increase the prices of its products in the second half of this year. According to the group, this is necessary because raw materials are rising rapidly in price, partly due to the war in Ukraine.
Due to the more expensive raw materials, Unilever’s costs will rise by EUR 2.1 billion in the first half of the year. In the second half of the year, the company expects to lose even more, namely 2.7 billion euros.
A-brands such as Unilever have a market share of around 20 percent in Dutch supermarkets. Earlier, the company warned that prices would go up due to higher raw material prices. Six months ago, the group still expected price increases to level off at the end of 2022.
Inflation
The latest inflation figures from Statistics Netherlands show that the prices of food and drinks are rising rapidly. In March, food was 6.2 percent more expensive than a year ago.
Unilever increased its prices by more than 8 percent. Turnover rose by almost 12 percent to 13.8 billion euros. What Unilever is left with at the bottom of the line, the company will announce in the half-year figures.
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