Food manufacturers anticipate continuing price hikes in 2022

Although the increase will vary by locale and distributor, IRI predicts that food prices will increase 5 percent overall in the first half of 2022. Major consumer packaged goods companies, from Mondelez to Kraft Heinz and Campbell’s Soup, have already warned of hikes affecting a broad range of categories. “There’s nothing immune from price increases,” said Tony Sarsam, CEO of SpartanNash.