Swiss food giant Nestle lowered its sales growth outlook for 2024 Thursday as it slowed its price increases in the first half of the year, with under-pressure consumers shopping for cheaper products. Shares in the group, whose brands range from Nespresso coffee capsules to Purina dog food and Haagen-Dazs ice cream, fell on the Swiss stock exchange following its earnings report. Nestle said it now expected organic sales growth -- which excludes currency fluctuations and acquisitions -- of "at least three percent" this year, down from its previous target of four percent. The global packaged-food giant and its rivals had logged high sales growth in the past three years as they raised prices to make up for higher costs due to soaring inflation. The company increased prices by two percent in the first six months of the year, compared to 9.5 percent over the same period in 2023, mirroring a slowdown in inflation in major economies.