Kraft Heinz Forecasts Weak Profit as High Prices Put Off Thrifty Shoppers

Kraft Heinz forecast annual profit below estimates on Wednesday as years of price hikes eat into demand for the packaged food maker's Lunchables and packaged meat.

The Jell-O maker also missed sales expectations for a fourth straight quarter, sending its shares down about 4% in early trading.

Steep living expenses have forced Americans with tighter budgets to avoid higher-margin products, even in categories like condiments and spices, hurting packaged food makers that have raised prices repeatedly to protect margins from high input costs...

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