Kroger CFO Notes More and Faster Food Inflation Coming in Next Several Months
September 12, 2021 | Sundance
This is not a surprise data-point for readers here. However, it is good to see honest statements from corporate executives on what to expect with food inflation.
As noted by Kroger Chief Financial Officer Gary Millerchip in a call with financial media, we can expect to see even more rapid inflation in food prices overall in the next several months:
MSM – Cincinnati-based Kroger Co., which had $132 billion in sales last year, says inflation is running hotter than management previously anticipated and that expectations are now for prices to rise 2% to 3% over the second half of this year.
Kroger is “passing along higher cost to the customer where it makes sense to do so,” said CFO Gary Millerchip on the company’s second-quarter earnings call on Friday. (read more)
The reason for more inflation is not too difficult to understand. Fresh foods show fast price increases immediately because they have almost no pre-existing inventory. Fresh foods go from field to fork the fastest, and price increases show up immediately. The same applies to restaurants.
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https://theconservativetreehouse.com/blog/2021/09/12/kroger-cfo-notes-more-and-faster-food-inflation-coming-in-next-several-months/
