Unilever ups its prices

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The Independent Online

Rising food prices are biting at the supermarket till, and even giant producers such as Unilever admit they are feeling the pinch.

With raw materials and commodity costs inflating, the consumer goods giant is putting up its own prices in response. Despite such pressures, the company beat investor forecasts with an 8.4 per cent rise in first-quarter sales.

Jean-Marc Huet, its finance director, said: "Competition is intense. We have seen some moderation in emerging market growth while developed markets remain muted."