Kraft Heinz Slashes Prices as Consumer Affordability Hits Breaking Point

Kraft Heinz CEO Steve Cahillane said his company is focused on lowering prices because consumers are having trouble paying their bills. In an interview with The Wall Street Journal, Cahillane said the packaged food company’s strategy includes price cuts on items that had become expensive, more promotions, and new, smaller package sizes with lower prices. “Consumers are literally running out of money toward the end of the month,” Cahillane said.