KITKAT maker Nestl&eacute; is going to put up prices again, despite earning &pound;22.7million-a-day in profits.
The world's biggest food company said it has to charge more to cover the rising cost of ingredients.
The firm, which also makes Buxton mineral water and Nescaf&eacute; coffee, said it was taking a "massive" hit to its margins at the moment. It is yet to say exactly how much our fave&nbsp;food prices will rocket. Boss Mark Schneider said the company suffered in 2022 because of the "many challenges and tough choices for families, communities and businesses" He
said not as many of the firm's products were being bought and net profits for the year were &pound;8.34billion down from the &pound;15.2bn made in 2021.
The 45% net profit decline comes despite the group push-
ing up the prices of its products by 8.2% throughout the year.
Grocery prices were up 16.7% in the year to January, leaving food inflation at a 45-year high.&nbsp;

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.