Former Heinz CEO argues inflation ‘not transitory’ for consumers
Former Heinz CEO Bill Johnson warns that inflation is having a ‘huge impact’ on ‘simple things, like container costs coming out of Europe or China.’
Inflation reared its ugly head this week as year-over-year consumer and producer prices jumped notably.
The Consumer Price Index rose 5.4% in July, matching the prior month's gain as the fastest since August 2008, while prices at the producer level jumped 7.8%, the most on record, according to the U.S. Bureau of Labor Statistics.
FOX Business digs into the numbers to see what consumers are paying up for.