Food Giants Warn of More Pain for Consumers as Trade War Bites

President Donald Trump’s unpredictable trade policy is hurting consumer sentiment and adding to cost pressures, at a time when high prices of commodities like cocoa and coffee continue to filter through to supermarkets.

Those were among the takeaways from some of the world’s biggest food companies’ results this week, with one key message in particular: Consumers should brace for more pain. Here’s what they tell us about the outlook for food inflation and consumer trends: