Nestle's boss has warned 'further pricing and mitigating actions over the course of the year' will be required.
Analysts said Nestle's price rise of 5.2% helped its sales to increase by more than expected.
"Hiking prices to keep things moving in the right direction in the wake of input cost inflation certainly won't be a course of action management want to have to take," said Matt Britzman, an analyst at Hargreaves Lansdown. "But nonetheless, it's the position Nestle finds itself in and doesn't look likely to go away anytime soon," he added.
Last month, Nestle said it would only sell essentials such as baby formula and medical nutrition products in Russia. It suspended sales of brands such as KitKat and Nesquik and stopped investment in the country as a growing number of Western brands halted operations in Russia in protest at the war.
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