With inflation widespread across the world, people will have to get used to higher food prices. That’s what Kraft Heinz’s executive director, Miguel Patricio, told BBC News.
Kraft Heinz readjusts its prices on more than half of its products in several countries due to the increase in the price of cereals and oils. In addition, with the economic recovery in some countries, supply has not been able to meet demand, according to Patricio.
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The Food Price Index of the Food and Agriculture Organization of the United Nations (FAO, its acronym in English) rose 1.2% in September compared to August. FAO points out that it is the highest level in a decade and was driven by the prices of cereals, vegetable oils, sugar and dairy products.
Patrício argues that local contexts also drive the price increase, as the UK suffers from a lack of truck drivers due to the exit from the European Union (Brexit) and the US faces a challenge with logistical costs and labor shortages.
In Brazil, according to the Brazilian Institute of Geography and Statistics (IBGE), food products rose 12.54% in the last 12 months to September, above the general inflation of 10.25%. Above all, the cost of energy, the increase in the price of soy oil and meats weigh heavily.
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