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Kraft Heinz CEO predicts continued inflation, more price increases next year
10.25.22 - Are supply chain shortages the "new normal"?
Gold last traded at $1,651 an ounce. Silver at $19.31 an ounce
Fox Business
He made the comments during a CNN Business interview published Monday in which he discussed certain challenges impacting the food industry.
"We've already increased the prices that we were expecting this year, but I’m predicting that next year, inflation will continue, and as a consequence [we] will have other rounds of price increases," he told the outlet.
Both consumer and wholesale inflation have been hovering at painfully high levels, FOX Business previously reported.
The consumer price index in September rose 0.4% from August and 8.2% from the prior year. Meanwhile, in the same month, the producer price index climbed 0.4% on a monthly basis and 8.5% on a yearly basis.
Kraft Heinz has attempted to "minimize inflation on everything we do," Patricio reportedly said, noting it would be "very easy to just pass the price to consumers, but that has consequences."
