Higher food prices could be here to stay

BBC – People will have to get used to higher food prices, the boss of Kraft Heinz has told the BBC.

Miguel Patricio said the international food giant, which makes tomato sauce and baked beans, was putting up prices in several countries. Unlike in previous years, he said, inflation was “across the board”. The cost of ingredients such as cereals and oils has pushed global food prices to a 10-year high, according to the UN Food and Agriculture Organisation.

As well as increased demand caused by the coronavirus pandemic, higher wages and energy prices have also affected manufacturers’ profit margins.

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Photo A packed shopping trolley at a Tesco’s supermarket in London, Britain. EPA-EFE/ANDY RAIN