Nestle ($NSRGY@Switzerland) has raised prices by 9.8 percent in Q1 2023 due to "significant cost inflation." The Swiss consumer goods firm saw a 5.6 percent increase in sales revenue at 23.5 billion Swiss francs ($26.49 billion) while its sales volume fell by 0.5 percent. Nestle reported growth in its Purina PetCare range, with coffee sales growing in the high single digits and confectionery sales, including popular brands such as KitKat, Smarties, Milky Bar, and Quality Street, growing in double digits. Although consumers face significantly higher prices for food and household essentials, Nestle has experienced minimal “consumer downgrading” related to its prices.