From a Reuters interview with Kraft Heinz Chief Executive Miguel Patricio

Citing:

  • "Where we are seeing (inflation) is in grains and everything related to grains
  • Sugar has big inflation"

Here is the link for more, commodity prices are underpinned by both global recovery and loose policy. And, this from the Fed:

  • U.S. Federal Reserve policymakers, however, have downplayed any imminent inflation risk.