Nestle prices to rise this year

The world's largest food company says it's raising prices.

COLUMBIA, S.C. (WOLO)— The world’s largest food company says it’s raising prices.

Nestle says many of its 2,000 brands will get more expensive for consumers this year.

It comes after the company raised prices by an average of 8.2% last year.

Nestle says those prices hikes weren’t enough to offset its own costs, but the Switzerland-based food giant has a fine line to balance.

High prices can drive consumers away.

Nestle admits its sales volume dropped during the second-half of last year because of pricing.