Unilever warns of accelerating price rises as Iran war drives up cleaning product costs

Unilever, the FTSE 100 consumer goods giant behind Cif, Domestos and Comfort, has warned households of accelerating price rises for the rest of the year after cleaning product costs jumped following the war in Iran. Prices across its range rose 2.3pc in the three months to the end of September, nearly quadruple the 0.6pc rate seen in the first half, and the company expects further acceleration in the fourth quarter. The home-care division posted the fastest increases at 3.6pc, while personal-care prices, including Lynx and Dove, averaged 2.4pc. Prices are rising at their fastest since the 3pc recorded in late 2023. Chief financial officer Srinivas Phatak attributed the increases to higher commodity costs, with energy, packaging and shipping all spiking since US and Israeli forces began attacks on Iran in February. Underlying sales growth reached 5.2pc in the third quarter, with revenues of €13.3bn (£11.1bn) and volumes up 2.9pc. Reckitt, maker of Dettol, also raised prices this week to offset higher costs.