In 2022 Ritz crackers, Sour Patch Kids, and Oreo Cookies will all be more costly. Mondelez CEO Dirk Van de Put told CNBC Tuesday.

He said that CNBC was currently considering starting 2022 with an increase of 7% in U.S. prices. “Closing Bell.”

Van de Put indicated that cost inflation will rise 6 percent next year due to increased commodity prices, and transport shortages. He said that it has been hard to keep retailers stocked up with product, and noted that the stock on hand is not as good as we’d like.

He pointed out that while these problems are worldwide, they are especially acute in the U.S.

Van de Put’s remarks come at a time when Mondelez published its third-quarter earnings on Tuesday. It reported that it saw a rebound of sales throughout China, India and Brazil. These markets have suffered a severe economic hit from the pandemic. However, consumer spending has been increasing.

According to him, the global average home consumer spends 15% less time in their homes than they did previously. These categories of chocolate and biscuits are more popular at home.

Mondelez reported that its third-quarter net revenue rose from $6.67 million a year earlier to $7.18billion. This is higher than analysts’ average estimate at $7.03billion.

Refinitiv data shows that the earnings per share were 71cs higher than analysts predicted.

On Tuesday, Mondelez also increased its annual sales forecast. Mondelez expects that full-year net revenues will grow by 4.5% from the previous estimate of 4%.