“The combination of our categories being essential and relative consumer strength, give us confidence for the volume growth also in the second half.”

In context

“we've taken pricing in September and October, which are normally highly price elastic. We've seen price elasticity in the range of 20% to 30% lower than what we would have expected based on historic data. So we take comfort in the strength of our brands, the broad based growth of the portfolio globally, the broad based growth of portfolio across categories, and the short term reaction of the consumers as we take pricing and our ability to combine that pricing with innovation, which actually then stimulates the consumer to trade up in everything that we've seen. We assume, I think we hope that as some of the stimulus payments, phase out, labor rate participation will increase and hopefully one level of income will be replaced by another to be seen, but everything that we see at the moment. The combination of our categories being essential and relative consumer strength, give us confidence for the volume growth also in the second half. The only thing I will say on China. The elements that will help us here is hopefully with COVID easing and the regional lockdowns disappearing. That should be a positive driver of growth in China, but too early to confirm obviously. Operator: And our next question will come from the line of Bill Chappell with Truist. Bill Chappell: Thanks. Good morning. Thanks for taking my question. Just on the metric of 75%, superiority of your portfolio, obviously it's helped you immensely over the past few years. And in terms of kind of gaining market share or what have you, but I think we've been at 75% for about three, if not four years now. So just is that kind of the ceiling would be one question? Has the pandemic really slowed down your R&D pipeline, kind of with trying just to fill the supply ch”