Kraft Heinz CEO Says More ‘Rounds of Price Increases’ Coming as Inflation ‘Will Continue’
Kraft Heinz CEO Miguel Patricio warned that because of persistent inflation, there will be more price increases in 2023 amid ongoing challenges that are hampering 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,” Patricio said in an interview with CNN Business on Monday.
Patricio’s warning comes as inflation is still hovering at 40-year highs, drastically reducing the purchasing power of American households as many companies have passed on higher costs to consumers….