The Inflationary Environment

We have not been overly optimistic in terms of our inflation outlooks so far this year. And yet the inflation's been higher than we've expected, even though we've taken a fairly conservative approach to it. The key during all that is we have to watch our volumes and watch elasticity of demand. Our elasticities have been very benign. Our growth has been strong. In three of our biggest businesses, healthy choice, bird's eye, voila and slim jim, we've experienced double digid growth over the last quarter. Despite the fact that we've been compelled to take these price increasese, business is strong. We just have to get through it.