Kraft Heinz CEO: Inflation and supply shortages are here to stay for a while | CNN Business

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'Supply is not keeping up with demand, and extreme weather is making the situation worse.' CNN's MattEganCNN reports on supply chain problems, which are likely to persist into the next year.

And he doesn’t see an end to either issue anytime soon. “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. For its second quarter ended June 25, Kraft Heinz raised its prices overall by 12.4 percentage points compared to the year-earlier period.

Kraft Heinz has also leaned into different packaging and pricing options for consumers, including bulk value packs of Kraft Macaroni and Cheese and wider variety of bottle sizes for products like Heinz ketchup for shoppers who want smaller, lower-priced choices. “It’s a constant fight to try to minimize price increases,” Patricio said. Part of that fight is Patricio’s “obsessive” tracking of potential supply chain issues.

 

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MattEganCNN Food crisis?

MattEganCNN Bad Behaviour! That's what Developed World tolerates! Why are we in Developed World letting this 'stealing of our resources happen?' over and over! Why? What's problem now? We must start changing our Economic System ASAP! CBCNews BBCNews

MattEganCNN And corporations are gouging and booking record profits while people struggle. Tax the rich

MattEganCNN Jesus offers eternal life ; no problem with supply demand is weak

MattEganCNN write your congress man they seem busy printing trillion dollar magic coins running afghan , iraq , russia , taiwain , noko

MattEganCNN Even after Big Corporations got a tax cut from Trump, they're still price gauging consumers pay the price. MAKETHEMPAY

MattEganCNN Clearly consumers need to boycott price hiking companies.

MattEganCNN Kraft Heinz. Sounds like two names that are raring to support Ukraine. Do they want to send more money to Ukraine, or do they have it where all of their supplies are being purchased from Ukraine?

MattEganCNN Its mostly corporate greed causing this

MattEganCNN And the BS just carries on and on...

MattEganCNN Pandemic profiteering.

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