Nestle AG , the world’s biggest foodmaker, expects to raise prices by 1.6 percent in 2011, the company chairman said Tuesday, similar to last year’s increase despite soaring raw material costs.
Peter Brabeck-Letmathe told Reuters Insider that the company, which makes Nescafe coffee and Gerber baby food, would spend an extra $3.5 billion on raw materials in 2011, with more than half of that would be absorbed internally. Get the full story »
