The company said in a statement released yesterday (23 May) that escalating costs continue to be seen across a number of raw material categories with no sign of improvement, with binders, additives, pigments, solvents, and other materials all continuing to rise in cost.

It said inflation is now worsening across multiple spend categories “and an already problematic supply chain climate continues to experience significant disruption”.

Specifics regarding the price increases were not disclosed.

Jesper Bødtkjer, vice president and general manager at Flint Group Flexible Packaging Europe, said: “The emphasis we place on supply reliability has a significant financial implication on our business. Throughout these unparalleled times, we have sought to take a phased, incremental approach to pricing adjustments.

“However, the expected softening of raw material prices has not occurred, costs continue to rise aggressively and therefore we are forced to raise prices.”

The company added it would continue to prioritise product quality, service, and the security of supply to its customers.