The food group, which owns KitKat, Smarties, Häagen-Dazs ice cream and Nescafé coffee, has already raised prices by 5.2% in the first three months of this year, but warned that more was yet to come.

Like its competitors and retailers, Nestlé has had to tackle increasing supply chain costs, pushed high first by the pandemic and then by the impact of war in Ukraine on staples such as sunflower oil and energy prices.