Unilever Sees Toughest Inflation Since 2008 Financial Crisis

Unilever Sees Toughest Inflation Since 2008 Financial Crisis

(Bloomberg) -- Unilever Plc warned that costs for raw materials that go into shampoo, detergents and ice cream are increasing at the fastest pace in more than a decade, forcing it to scale back profitability goals for this year.

The maker of Cif cleaners and Dove soap lowered its guidance for profitability Thursday, forecasting 2021 margins near last year’s level as improvement becomes more difficult. The shares fell as much as 4.6%.