Like Everything Else, Even The Price Of Your Ketchup Is Going Up

 People will have to get used to higher food prices, the boss of Kraft Heinz has told the BBC.

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.

Kraft Heinz has increased prices on more than half its products in the US, its home market, and Mr Patricio admitted that is happening elsewhere too.

During the pandemic, many countries saw production of raw materials, ranging from crops to vegetable oils, fall. Measures to control the virus, as well as illness, limited output and delivery.

As economies have restarted the supply of these products hasn't been able to keep up with returning demand, leading to higher prices. Higher wages and energy prices have also added to the burden for manufacturers.

Customers in the UK bought more Heinz Baked Beans, while customers in the US bought more Kraft Mac & Cheese.

 https://www.bbc.com/news/business-58847275

 Yep, even the price of baked beans is going up. And we all know that increases will be here to stay; they never take them back down.


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