The more expensive KitKats and coffee make more money for Nestlé

KitKat chocolate bars, Nescafé coffee and Purina pet food have become significantly more expensive at the supermarket, resulting in higher profits for producer Nestlé. The Swiss group has succeeded in passing on increased spending to consumers. The introduction of new Garden Gourmet meat substitutes has led to the highest revenue in the first nine months of the year.

Nestlé said it cannot continue to raise prices, which have risen 7.5 percent globally over the past year, as demand will slow down at some point. In Europe, the company made its food nearly 6 percent more expensive, compared to more than 11 percent in the United States.

Revenue from meat substitutes rose more than 10 percent, as did those from sweets and water. In August, a vegan version of KitKat appeared, in which the chocolate is made with rice instead of milk. Nestlé experienced supply chain disruptions in its ability to supply San Pellegrino water. More expensive coffees from Nescafe, Starbucks and Nespresso also yielded higher yields.

Total turnover in the first nine months of this year rose more than 9 percent to more than 70 billion euros. For the rest of the year, Nestlé forecasts a self-sustaining growth of around 8 percent.