12 December 2007 – Confectionery giant Cadbury will increase the price of its chocolate-based products in the UK early next year, the group has announced.
The company cited raw material price hikes as the reason for the increase, which should be slightly higher than inflation, although no definite figure has been mentioned yet. There has been a 5 to 6% increase in the cost of commodities such as dairy, oil and cocoa, all of which are used by Cadbury to manufacture its chocolate products.
Other companies are bound to follow suite, according to analysts.
The news comes a few days after FLEXNEWS reported that Cadbury had issued a trading update in which it forecast its revenues to grow above the 4 to 6 % it had previously estimated. The company also revealed that its soon-to-be demerged US drinks operation would be renamed “Dr Pepper Snapple Group”.