Tyson Foods grappling with 'unprecedented inflation'

Tyson Foods Inc. is facing increased inflation and raising prices accordingly.

"We have seen accelerating and unprecedented inflation," CEO Donnie King said. "Inflation is up about 14% during our (fiscal third quarter) and 9% year to date."

The Springdale, Arkansas-based company in the quarter raised its average price of pork by 39%, while chicken was up 16% and beef increased by 12%.

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