Packaged food major Nestle India cautioned on Tuesday that consumption would moderate in the coming months as the West Asia conflict, inflation, El Nino concerns and shipping disruptions pose risks to demand, costs and supply chains. The company, however, said it planned to continue investing in brands and capacity as it sought growth through higher volumes and premium products. “Inflation is a concern, but given that we are on this long-term journey when it comes to penetration, rural consumption and premiumisation, I remain quite confident of our ability to handle these short-term blips,” Manish Tiwary, chairman and managing director of Nestlé India said during an analysts’ call on Tuesday.