The company reported Thursday that price increases it made to cope with higher ingredient costs are not going to be enough to sustain its profitability and it plans further hikes this year.
As one of the world's largest food companies, Kraft is feeling the pinch from higher costs for wheat, corn, sugar and other commodities.
The company already raised prices on most of its products in Europe and more than half in North America. But it said its input costs rose nearly $500 million during the fourth quarter and its profit margins suffered accordingly.
http://finance.yahoo.com/news/Kraft-says-more-price-apf-2318617575.html?x=0&sec=topStories&pos=6&asset=&ccode=
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