“What I'll leave you with, I don't expect any headwind from commodity in the second half. It continues to be a tailwind.”

In context

“w you maintained your commodity outlook this morning, but just given the first half performance, the outlook does not embed as much of a tailwind from here, which you alluded to Andre, but can you maybe just unpack what you're seeing across your key cost buckets? Where are things getting better? Where are things getting worse? And maybe just based on current spot rates, how should we think about the phasing? Would you expect deflation in both 3Q and 4Q, or is there any potential for cost to become a headwind as we exit the year? Thanks. Andre Schulten: Hi, Peter. The commodity basket is wide, complex, and changing very quickly. So the best guess we have is what we told you, $800 million of tailwind for the year, which the majority of which has been flown through the P&L in the front half. What I'll leave you with, I don't expect any headwind from commodity in the second half. It continues to be a tailwind. The second thought I'll leave you with, is the impact on the P&L given the time it takes for commodity changes to flow through our contract structures and our own variance holding policy, make the time lag significant. So, even if we saw significant volatility on commodity spot prices, the impact on the fiscal will decrease over time simply, because of those two dynamics. But continue to expect tailwinds just less than you saw in half one. Operator: The next question comes from Jason English of Goldman Sachs. Please go ahead. Jason English: Hi, good morning, folks. Thanks for slotting me in and yes belated Happy New Year to you all. A couple questions. We've talked a few times about the North America volume strength. I had in my notes that you're lapping some under-shipment that should ha”