Photo: Conagra Brands“We won’t have any more significant price increases unless our cost, our inflation estimate, starts to go back up,” Mr. Marberger said.
The reading comes amid moderating price increases after a peak of 9.1% in June.
I never, ever remember that kind of a price increase,” Mr. Marberger said.
“They are now turning the corner and from here are going to need less rapid price increases, unless some other price shocks occur.”Conagra’s sales volumes fell 8.4% for the quarter ended Nov. 27 as customers responded to the price increases, the company said.
“And that plays well for us.”Overall, Conagra’s customers—which include retailers Walmart Inc. and Kroger Co. —have accepted the price increases, Mr. Marberger said.