“In terms of key assumptions we continue to expect a double-digit inflation increase for '23, driven by elevated cost in packaging ingredients, labor and lapping favorable commodity hedges in 2022.”

In context

“rease in our dividends of plus 10%, marking a double-digit increase in eight of the last nine years of the history of Mondelez. Turning to our outlook on page 19. Given the strength of our Q2 and first half performance the successful conclusion of our negotiations in Europe, the strong volume momentum of our brands, we are raising our full year outlook for both revenue growth and adjusted EPS. We now expect top-line growth of 12% plus versus our original outlook of 5% to 7% and most recent outlook of 10% plus. EPS growth is also expected to be 12% plus versus our prior outlook of 10% plus and the original outlook of high single-digits. Note, our free cash flow outlook remains unchanged at $3.3 billion, given $400 million in cash taxes related to the sell-down and exit of our KDP position. In terms of key assumptions we continue to expect a double-digit inflation increase for '23, driven by elevated cost in packaging ingredients, labor and lapping favorable commodity hedges in 2022. With respect to interest expense, we now expect $380 million for the year, given recent coffee asset monetization and term-loan reductions. We also expect to end the year around mid-twos in terms of leverage, based on current conditions. As a reminder, given the liquidation of our KDP position in mid-July there will be no dividend income recorded enough to. We now expect $0.11 of EPS of headwinds related to ForEx impact for the year versus $0.09 in our prior outlook. The outlook revision reflects our increased confidence in the year. Ongoing resilience of consumer consumption in our categories, relatively benign elasticities, continued brand reinvestments, and completion of pricing in Europe as well as health of our emerging markets. This current outlook does not consider a material deter”