Food majors raise prices


NestlŽ is the latest multinational food giant to pass on soaring costs to consumers amid the worst inflation in decades, caused by war in Ukraine, rising fuel and energy bills and supply chain problems


Hikes in food prices by company (Year-on-year)

UN Food Prices Index (June 2022)     23.1%
McDonaldŐs	  20.0%
Tyson Foods       17.6%
Costa	          12.0%
Kraft Heinz	  12.0%
Coca Cola	  12.0%
Unilever	  11.0%
NestlŽ	           9.6%
NandoŐs            8.0%
Diageo             6.0%

Big Mac: Most expensive countries
(U.S. dollars)

1. Switzerland    $6.71
2. Norway         $6.26
3. Uruguay        $6.08
4. Sweden         $5.59
5. Canada         $5.25

Sources: Bloomberg, UN Food and Agriculture organization, Trustnet