Summary: Swiss food giant Nestle has warned that it will continue to raise the prices of its products because of the rising costs of food. The maker of KitKats and Nesquik increased prices by more than 5% in the first three months of the year. The price rise helped Nestle to report sales growth of 7.6% in the period. As costs rise, Nestle boss Mark Schneider said "further pricing and mitigating actions over the course of the year" will be required. "We stepped up pricing in a responsible manner and saw sustained consumer demand," Mr Schneider added. Food prices worldwide are at their highest since records began 60 years ago, according to the UN Food price index.
