“We expect this dynamic to persist for the foreseeable future.”

In context

“ng to hit retail shelves now. North America OI increased 6.5%. AMEA grew 5.8%. China posted strong results with high single-digit growth fueled by continued investments in brand building across Oreo, Chips Ahoy!, and Stride, coupled with ongoing distribution gains, adding approximately 80,000 new outlets on a year-to-date basis. India was down slightly in Q3, driven by a decline in biscuits, where inflation has led to a more competitive promotional environment. On the flip side, chocolate continues to perform well, especially within the low unit price segment, which grew mid-single-digits. Australia, New Zealand and Japan delivered another strong quarter of growth driven by RGM, strong activations and innovation. Boycotts in the Middle East and Southeast Asia remain a headwind to results. We expect this dynamic to persist for the foreseeable future. However, it is largely embedded in the base beginning Q4. The overall impact to the region was approximately 2 percentage points worth of growth. AMEA increased OI dollars by more than 15% with meaningful A&C increases. Latin America grew 2% in the quarter. Brazil and Western Andean posted growth, while Mexico was down modestly. Note that Argentina pricing has been capped at 26% unlike Q3 last year, where the country contributed more than 18 points to LA growth. Latin America OI declined 4.8%, due primarily to lower volumes in Argentina and Mexico. Turning to Page 17. In Q3, we saw strong double-digit gross profit dollar NOI dollar growth. Top line growth, pricing execution and ongoing cost discipline helped fuel these results. In addition, cocoa is still relatively benign in Q3, thanks t”