Nestle AG, the world's biggest food maker, expects to raise prices by 1.6 percent in 2011, the company chairman said on Tuesday, similar to last year's increase despite soaring raw material costs.   Peter Brabeck-Letmathe told Reuters Insider that the company, which makes Nescafe coffee and Gerber baby food, would spend an extra $3.5 billion (2.1 billion pounds) on raw materials in 2011, but more than half of that would be absorbed internally.
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