Food manufacturers anticipate continuing price hikes in 2022
December 29, 2021
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.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.