The maker of Marmite and other popular food and household products has warned that some price rises are inevitable.
Unilever has said it expects its own input costs to rise by up to £3 billion this year and will have to pass some of those increases on to the consumer, according to the Mirror.
The firm is behind Ben & Jerry's and Magnum ice cream and Hellmann's mayonnaise and also owns well-known brands such as Dove, Domestos bleach and Vaseline.
The company has confirmed that the price of some of its products will increase but it is not able to say which ones because the hikes will vary across different countries.
It said: "We don't want to put prices up but we're seeing the highest inflation we've seen in a decade. There will be price increases on some products and in some markets but it will not be uniform across the world."
The news of higher prices comes after Unilever already hiked the cost of some of its products in 2021, despite enjoying its strongest sales growth in nine years and taking around £50 billion.
The consumer giant is predicting "very high" cost inflation of £1.7 billion in the first half of this year and expects to bear the brunt of higher prices for raw materials, freight and packaging, which it will have to pass down to its customers.
CEO Alan Jope told the Mirror: "The major challenge of 2021 has been the dramatic rise of input costs. We responded with pricing actions. In 2022 we will manage a significant input cost inflation cycle."
The hikes will be of concern to consumers already feeling anxious about more expensive energy bills, rising petrol prices and the higher cost of borrowing.
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