Kroger CEO says he expects normal levels of food inflation this year
Kroger CEO Rodney McMullen told CNBC on Thursday he does not anticipate problematic food inflation in 2021, while cautioning that month-to-month prices may be volatile. "For the whole year, we expect inflation to be at 1% to 2%, which is a pretty normal number," McMullen said on "Closing Bell." McMullen's comments come as the topic of inflation across the broader U.S. economy is in sharp focus. Wall Street has for weeks been paying close attention to the rising yield on the benchmark 10-year Treasury, which was around 1.547% on Thursday. With respect to grocery store prices, McMullen said there could be variability, especially when comparing them with 2020 levels during the early parts of the pandemic.cnbc.com
Is higher inflation around the corner?
Is higher inflation around the corner? As the economy rebounds, the price of goods and services is starting to creep up. Could that spur the Federal Reserve to raise interest rates sooner than expected? CBS MoneyWatch contributor Anthony Mirhaydari explains.cbsnews.com