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. In the meantime, as a result of the closure of the Strait of Hormuz after the invasion of Iran by the USA and Israel, which according to our country's equation has become a regional war, in addition to the major crisis in the energy market, the food basket in the countries of the world has also been affected, and the producers of basic products, beverages and production have sharply increased the prices of snacks. 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.

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. In the meantime, as a result of the closure of the Strait of Hormuz after the invasion of Iran by the USA and Israel, which according to our country's equation has become a regional war, in addition to the major crisis in the energy market, the food basket in the countries of the world has also been affected, and the producers of basic products, beverages and production have sharply increased the prices of snacks. 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.