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Food and household brands warn of more price hikes as Iran war costs bite
Procter & Gamble increased its projected profit hit by $400 million due to surging raw material and freight costs, according to company financial disclosures.
- On Wednesday, October 28, 2026, Unilever announced it will accelerate price increases through 2027 to offset rising costs linked to the war with Iran, with CEO Fernando Fernandez stating pricing will exceed 2026 averages.
- The consumer goods giant is separating its food business into a £33.8 billion joint venture with McCormick, expecting a timely closing by mid-2027 with integration work involving more than 200 employees across 20 cross-functional teams.
- Third-Quarter underlying sales grew 5.2%, surpassing analyst expectations of 4.8%, while the company raised its full-year volume growth forecast to at least 3% from previous guidance of around 3%.
- Shares fell 3.4% on Wednesday as slower volume growth weighed on the stock, while RBC analyst James Edwardes Jones said the food business "is dragging down group performance." Reckitt Benckiser also raised European prices due to conflict-driven inflation.
- Fernandez emphasized the need to balance volume and pricing in the short and medium term, aiming to maintain consumer demand while passing through inflationary costs as Unilever continues post-pandemic recovery efforts.
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Dove owner Unilever hikes prices as energy costs surge
Dove owner Unilever hiked its prices over the summer as it looked to offset rising energy costs caused by the Iran war. The FTSE 100 consumer goods group told shareholders on Wednesday its prices rose by 2.3 per cent in its third quarter, as its volume growth slowed from 5.5 to 2.9 per cent. The [...]
·London, United Kingdom
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Global companies, including Coca-Cola and Nestlé, warned against raising the prices of their products in 2027, owing to the increased costs of energy, shipping and raw materials, despite weak consumer demand, amid fears of continued inflation.
Coverage Details
Total News Sources25
Leaning Left5Leaning Right5Center6Last UpdatedBias Distribution38% Center
Bias Distribution
- 38% of the sources are Center
38% Center
L 31%
C 38%
R 31%
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