Maker of Dove soap and Knorr soup warns inflation is likely to accelerate in 2022
Unilever warned inflation was likely to accelerate in 2022 and its prices would have to rise further as consumer goods companies battle to offset surging energy and other costs.
“We expect inflation could be higher next year than this year,” he said on a media call, adding it was likely to peak in the first half of 2022 and moderate thereafter. In the three months to September 30, Unilever said sales of deodorants, skin care products and take-away ice-creams increased as improved vaccination rates in developed markets encouraged more people to venture out.
Markets including Mexico, the Middle East and Russia faced some of the highest prices hikes in the quarter, but volumes were barely impacted there, CEO Alan Jope said on an investor call.
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