Raise prices for brands from Heinz Soup to Hellmans by up to 73%


Greedflation: The giants behind brands from Heinz soups to Head & Shoulders raise prices by up to 73% while taking in £50bn in profits.

The consumer goods giant behind some of Britain’s favorite brands, from Heinz baked beans to Head & Shoulders shampoo, has been accused of greed and profiteering, taking huge profits after hitting shoppers with huge price hikes.

The surge in inflation on products like Heinz Tomato Soup, which has soared 73% from 98p to £1.70 in a year, has hit struggling families and multinationals that have followed have made billions of dollars.

Critics say the company needs to use it to absorb some of the increased production costs rather than pass the massive profits on to customers, prompting market watchdogs to intervene.

The Mail on Sunday could reveal that the seven biggest consumer companies are set to unveil gross profits of £50bn in 2022. This is an increase of £2 billion over the previous year.

The consumer goods giant behind some of Britain's favorite brands, from Heinz Baked Beans to Head and Shoulders Shampoo, has been accused of greed and profiteering, beating shoppers with massive price hikes and taking huge profits.

The Mail on Sunday could reveal that the seven biggest consumer companies are set to unveil gross profits of £50bn in 2022. This is an increase of £2 billion over the previous year.

However, they imposed big price increases at the checkout, such as Unilever increasing the price of Hellmann’s mayonnaise by 42%, from £1.75 to £2.49. Procter & Gamble’s Head and Shoulders Shampoo rose 21% from £2.33 to £2.83 and Heinz Baked Beans rose 35% from £1 to £1.35.

This rise opens up companies to accusations of ‘gridflation’, which use the cost-of-living crisis as a cover to raise prices more than is necessary.

Consumer Champion Baroness Ros Altmann said: ‘To the average consumer, this looks like greed and needs an explanation. It feels like they charge as far as they can go.

‘You must have a CMA. [Competition and Markets Authority] Investigation into what’s going on. In order to control inflation, there must be price research.’

However, they imposed large price increases at checkout with skyrocketing costs to consumers.

However, they imposed large price increases at checkout with skyrocketing costs to consumers.

Sir Chris Bryant, a veteran Labor MP, said: It’s time to get away from greedy pedals and give consumers a better deal.’

Tory MP Mark Garnier said: ‘It’s okay for companies to make a profit for their shareholders. That’s capitalism. But modern shareholders look for companies that are committed to their communities and the environment.

‘These companies need to show how they are helping people who are suffering and the wider society. Otherwise, both shareholders and customers will abandon them.’

Of the companies generating total global revenues of £50 billion, Mondelez (a US conglomerate that owns Cadbury chocolate and Philadelphia cheese), Danone, Nestle, Procter & Gamble and Reckitt Benckiser (which owns Dettol, Harpic, Finish and others) last year says the gains were much greater than in 2021.

Meanwhile, Unilever and Kraft Heinz are expected to record broadly similar numbers to the previous year.

Unilever said it was trying to absorb as much impact as possible, while Danone said it was cutting costs where possible.

Unilever and Kraft Heinz are expected to say their numbers are broadly comparable to prior years.

Unilever said it was trying to absorb as much of the impact as possible, while Danone said it was cutting costs where possible. Mondelez said it was ‘impossible’ to protect consumers from the effects, but declined to comment on P&G and Reckitt.

Last week, P&G raised its full-year sales forecast after several price hikes last year, and finance chief Andre Schulten said more price hikes are on the way. Last October, Nestlé reported its strongest sales growth in 14 years, with an average price increase of 7.5%.

Reena Sewraz, retail editor of consumer magazine Which? supermarket.’

Other gains reported by market research firm Assosia include P&G’s Ariel wash liquid up 25 per cent from £5.83 to £7.27, Heinz tomato ketchup up 39 per cent from £2.30 to £3.20 and Nestle Cheerios up 20 per cent from £2.45 to £2.45. I did. 2.93.

In many cases, supermarket own-brand products are considerably less expensive than brand-name products.

Spokespeople for Nestle and Kraft Heinz separately said last night’s price hike was a ‘last resort’. Nestle said it was absorbing billions of dollars in costs, and Kraft noted that energy costs have risen 609% since 2019.

Unilever said it was trying to absorb as much of the impact as possible, while Danone said it was cutting costs where possible. Mondelez said it was ‘impossible’ to protect consumers from its effects, but declined to comment on P&G and Reckitt.

‘It’s time for consumers to get a better deal’

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