Goya CEO cites COVID-19 and war in Ukraine for inflation in grocery prices
Asher Notheis
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Goya Foods CEO Robert Unanue cited the COVID-19 pandemic and the war in Ukraine as contributing factors to the increased prices of groceries.
Unanue stated that the price of fertilizer has “tripled” since the start of the war between Ukraine and Russia, and has sent food prices “soaring.” The Goya CEO also noted how the price of transportation lately has gone up “tenfold,” according to a recent television interview he did.
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“We bring in food from all over the world and transportation during the height of this went up tenfold, now that has come back down, it doesn’t mean inflation is coming down, it is coming back down more to logical levels. But weather had a big impact, in Europe, droughts and then followed by heavy rains have destroyed crops in Italy, in Spain, and around the world.”
Goya CEO Robert Unanue interview (7/12/2023)
Unanue’s comments came on the same day it was reported that annual inflation slowed to 3% in June. The report marks 12 straight months of declines in annual inflation after the rate peaked at a whopping 9.1% last June; additionally, the report marked the smallest rise in annual inflation since March 2021.
Unanue claimed that inflation “remains very strong” in the center aisle of the grocery store, “where the essentials are.”
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The war in Ukraine has been going on since February 2022, with many countries, including the United States, pledging to aid the country against Russia. During a recent trip to Europe, President Joe Biden praised Ukraine for remaining “unbroken” despite the “crimes against humanity” Russia has committed against it since President Vladimir Putin ordered an invasion in February 2022.
“The defense of freedom is not the work of a day or a year. It’s the calling of our lifetime — of all time,” he said. “We are steeled for the struggle ahead. Our unity will not falter, I promise you.”