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Buyers should expect food prices to rise, according to Kraft chief Heinz.
Miguel Patricio said the company “is increasing the prices, if necessary, worldwide” of products such as ketchup and baked beans.
Mr Patricio said this was due to a shortage of truck drivers in the UK, labor shortages and increased logistics costs in the US.
I think it’s up to us and the industry and other companies to try to minimize these price increases.
Miguel Patricio, Kraft Heinz
He told the BBC that consumers will have to get used to paying more for food due to the increase in the world’s population and the lack of land to grow produce.
But he also said companies should bear the cost increases, adding: “I think it’s up to us, the industry and other companies to try to minimize these price increases.”
Speaking about the reason for these increases, Mr Patricio said: “Specifically in the UK, with the lack of truck drivers.
“In the United States, logistics costs have also increased dramatically and there is a labor shortage in some areas of the economy.
Kraft Heinz chief Miguel Patricio says the shortage of truck drivers in the UK is partly responsible for the expected rise in food prices (Heinz / PA document)
(PA Media)
It is also because inflation was “generalized” unlike in previous years, he said.
It comes amid fears about supply chain issues ahead of Christmas.
Business consultancy firm BDO LLP said its research suggested economic growth has slowed for five consecutive months due to disruptions.
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