Consumers should expect higher food prices, says Kraft Heinz boss
Miguel Patricio said the firm is ‘raising prices, where necessary, around the world’ of its products, including ketchup and baked beans.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shoppers should expect to see higher food prices, according to the Kraft Heinz chief.
Miguel Patricio said the firm is “raising prices, where necessary, around the world” of products including ketchup and baked beans.
Mr Patricio said this was because of a lack of truck drivers in the UK and labour shortages and an increase in logistics costs in the US.
I think it’s up to us and to the industry and to the other companies to try to minimise these price increases
He told the BBC consumers will need to get used to paying more for food due to the world’s rising population and a lack of land to grow produce.
But he also said firms would have to take on the cost rises, adding: “I think it’s up to us and to the industry and to the other companies to try to minimise these price increases.”
Speaking about the reason behind the increases, Mr Patricio 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.”
It is also because inflation was “across the board” unlike in previous years, he said.
It comes amid fears over supply chain issues ahead of Christmas.
Business advisory firm BDO LLP said its research suggested that economic growth had slowed for five months in a row due to disruption.