Kraft Heinz warn of food price increases
Kraft Heinz has warned that people will need to get used to higher food prices.
The baked bean producer said it was putting up prices in several countries with inflation ‘across the board’.
Miguel Patricio, Kraft Heinz CEO, told the BBC that it has increased its prices on more than half of its products in the US and that was happening elsewhere two.
“We are raising prices, where necessary, around the world,” he said.
“Specifically in the UK, with the lack of truck drivers. In [the] US logistic costs also increased substantially, and there’s a shortage of labour in certain areas of the economy.”
Around one in six say they couldn’t find vital products over the last two weeks in the UK, while as many as a quarter are having difficulties getting non-essential food items, according to the Office for National Statistics.
The cost of ingredients such as cereals and oils has pushed global food prices to a 10-year high, according to the UN Food and Agriculture Organisation.