Bu Tyler Durden | 27 January 2022
ZERO HEDGE — As some on Wall Street warn that the Fed remains dangerously behind the inflation curve (a fear that was given voice yesterday when Fed Chairman Jerome Powell’s comments on inflation during the post-FOMC press conference appeared to send stocks spiraling lower), one of America’s biggest makers of food and consumer goods has warned that more price hikes are coming.
To wit, Kraft-Heinz (in which Warren Buffett’s Berkshire Hathaway owns a big stake) said in a letter to customers that it will raise prices in March on dozens of its most popular products. The hikes will affect brands including Oscar Mayer cold cuts, hot dogs, sausages, bacon, Velveeta cheese, Maxwell House coffee, TGIF frozen chicken wings, Kool-Aid and Capri Sun, CNN reported.
Increases range from 6.6% on 12oz packs of Velveeta to a whopping 30% hike on a package of Oscar-Mayer turkey bacon. […]
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