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WRAPUP 1-Consumer gulf widens as demand for premium and budget foods grows

From Nestle to Danone, food companies are seeing shoppers that want either premium or cheaper products, with less interest in items in the middle, particularly in developed markets like North America. The packaged goods industry has for over two years hit shoppers with higher prices, citing higher costs that started with the pandemic and were exacerbated by Russia's invasion of Ukraine. Everything from sunflower oil to freight has become more expensive, taking a toll on global supply chains and consumers struggling to make ends meet.