Inflation is everywhere, people need to get accustomed to higher prices: Kraft Heinz CEO


According to Kraft Heinz CEO Miguel Patricio, consumers should be prepared for a permanent increase in the price of food.

Patricio said inflation is “everywhere,” leading to price increases in several countries. Food and Agriculture Organization (FAOThe UN’s food price index rose in September, up 1.2% compared to the same month last year.

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“We are raising prices around the world, if necessary,” Patricio said in an interview BBC. He noted that a number of factors in different countries have contributed to the increase in “need”.

“Especially in the UK, with a shortage of truck drivers,” Patricio explained. “In [the] US logistic costs have increased significantly and there is a shortage of workers in some areas of the economy. “

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Patricio’s “US Logistic Costs” reference may refer to a record balance of container ships waiting to enter the port of Los Angeles. Jean Seroka, the port’s executive director, claims that as of October 6, about 250,000 containers were required to move through the port.

Patricio cited the persistent population growth as significant land available for growing food, as well as poor crops in Brazil, drought in Russia and storage in China.

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“I think it is up to us and the industry and other companies to try to reduce these price increases,” Patricio said. “It’s corn, sugar, coffee, soybeans, palm oil, you name it, all these basic food items are on the rise.”

Food manufacturers have devoted significant resources to developing new packaging to meet the goals of reducing plastic waste. Patricio said his company is “encouraging” customers to buy glass bottles, though, he acknowledges that they are less convenient.

“We’re working hard on our footprint, not just on plastic bottles, but on plastic,” said Patricio.

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