The CEO of Kraft Heinz, Miguel Patricio, told the BBC that a broad range of factors is contributing to the rising cost of food.
According to data by the UN Food and Agriculture Organisation, the cost of ingredients such as oils and cereals has raised global food prices to a 10-year high.
Patricio said that the company is “raising prices, where necessary, around the world” of products including ketchup and baked beans. He went on to say that rising logistic costs, a lack of HGV drivers and labour shortages were all factors in his decision to up product prices.
The CEO added that not all cost increases should be passed on to consumers. He said: “I think it’s up to us, and to the industry, and to the other companies to try to minimise these price increases.”
