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Nestle cuts annual growth forecast

Swiss food company Nestle has cut its annual growth forecast to 3.5%, from the 4.2% it forecast in August.
    
The firm, whose brands include Nespresso and KitKat, blamed "the current softer environment" which it says is causing food prices to fall.
    
Nestle's nine-month sales were US$66.19 billion up from US$65.51 billion last year.
   
Like its rivals, the firm has struggled to raise prices amid intense competition between supermarkets.



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