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Inflation & Prices

Nestle CEO Worries Wage Demands Will Result in More Inflation

Mark Schneider

Mark Schneider

Photographer: Stefan Wermuth/Bloomberg

Nestle SA Chief Executive Officer Mark Schneider is concerned high inflation rates could turn into a wage-price spiral.

“I worry about the development of wages,” Schneider said in Zurich. “It is completely clear if you look at the US or countries in Western Europe except Switzerland: Families had to face losses and will keep on having to face losses later in the fall. This will translate into wage demands, which will be made in 2023.”