Global food companies warn of escalating inflation with the closure of the Strait of Hormuz Despite growing consumer reluctance to spend and a decline in household purchasing power, the world's largest food and consumer goods companies, including Coca-Cola, Procter & Gamble, Nestlé and Riket, have warned of expected price increases next year to offset inflationary costs. Meanwhile, as a result of the closure of the Strait of Hormuz after the aggression of the USA and Israel, Iran has become a regional war according to our country's standards, in addition to the major crisis in the energy market, the food basket in the countries of the world has also been affected, and producers of basic products, beverages and snacks are facing a sharp increase in production. The looming rise in the prices of everyday goods raises concerns about continued inflationary pressures. The developments come at a politically sensitive time for the US, as the cost of living and rising food and fuel prices are key issues in next week's US midterm elections.