Bumper profits at KitKat maker Nestlé? They should give consumers a break | Phillip Inman

Workers and consumers are paying for the cost of living crisis, through product price rises and stagnant wages - shareholders, it seems, are not

Nestle is on course to report its best profit figures since 2008 when full-year figures appear next month. The Swiss maker of consumer favourites from KitKat to Nespresso coffee is expected to shrug off the cost of living crisis affecting consumers in most of its big markets to keep shareholders smiling in 2023.

US rival Procter & Gamble, which competes on several fronts with Nestle, has performed a similar magic trick. Back in October, the maker of Pampers nappies said average prices across its product lines rose 9% in the first quarter to the end of September, more than offsetting a 3% fall in sales.