Kraft Heinz, Conagra Will Start Passing On Soaring Food Costs To Consumers
Stagflation for the masses?
Cost of living is about to soar and all the average joe has to cover it is a $1400 check from Uncle Joe.
Late last year we noted that SocGen's Albert Edwards warning readers that it could be time to start "panicking" about soaring food prices.
Edwards' research said, "keep a very close eye as to whether we see a repeat of the 2010/11 surge in food prices" because "on the 10th anniversary of the start of the Arab Spring, and with poverty having already been made much worse by the pandemic, another food price bubble could well be the straw to break the very angry camel's back."
While it's not quite the spring of 2021 just yet, there are indications that soaring food costs are about to get passed on to consumers - this is terrible news for working-poor folks who are already suffering from housing and food insecurities.
According to Reuters, Kraft Heinz Co and Conagra Brands Inc warned Tuesday that price increases of wheat, sugar, and other commodities are becoming more expensive due to elevated demand.
