Europe

MORE price rises? The popular British brands that could hike up costs – FULL list

Farmers forced to hike food prices by 40 PERCENT

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The price of everyday goods is expected to rise as brands warn they are struggling to cope with rising inflation. Consumer giant Unilever has warned it will hike the prices of some of the nation’s most beloved products, saying rising wholesale costs are also to blame.

Bottleneck supply chain issues have occurred as parts of the world emerge from the coronavirus pandemic.

The UK is particularly badly affected due to post-Brexit trade and immigration rules.

While the consumer prices index (CPI) measure of inflation has actually slowed to 3.1 percent in the year to September, it is expected to rocket again over the coming months.

Costs of the ongoing energy crisis have had a crippling effect on businesses.

Unilever CEO Alan Jope said: “We have and will continue to respond across our categories and markets, taking appropriate pricing action and implementing a range of productivity measures to offset increased costs.

“We continue to expect that we will deliver in line with our margin guidance of around flat for the full year.”

Graeme Pitkethly, chief finance officer of the group, said the business has been experiencing “logistics challenges” within Europe.

He said: “In the UK and Ireland we have had many challenges to manage and there has been a lot of work in planning.

“We’ve have had to work hard with logistics to ensure supply and on-shelf availability of products, where we have seen improvement.”

What brands are affected?

Unilever has numerous brands under its umbrella, such as Marmite, PG Tips, Dove, Ben & Jerry’s, Hellman’s and Knorr.

The brand has said it increased prices by 4.1 percent in the three months to September – the biggest jump since early 2012.

The company has been grappling with higher prices for raw materials such as edible oils and packaging.

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But the consumer goods giants such as Nestlé and Procter & Gamble, already warned last month they will be forced to increase their prices as the issues persist.

Higher transport and energy costs have affected Unilever as well as other consumer giants, with Nestlé confirming this week that prices have risen by 2.1 percent.

Elsewhere, McBride, which supplies most British supermarkets with their private label cleaning products, had already raised prices over the summer but has now confirmed it will have to do so again for the same reasons as Nestlé and Unilever.

McBride products include many supermarket branded dishwasher tablets, surface cleaners, disinfectants and bleach.

Shoppers have been feeling the pinch in recent weeks as the prices of food and other essential goods increased by 1.7 percent in the four weeks to October 3.

This Christmas is expected to be a financially tight one for the UK, as retailers have already warned that several Christmas staples and gifts may be unavailable in the run-up to the big day.

Concerns are growing over the skyrocketing cost of living that comes with being a resident in the UK.

While inflation eased slightly in September from 3.2 to 3.1 percent, the Bank of England is predicting it will rise above four percent due to sky-high energy costs.

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