More companies hiking prices as inflation, supply chain woes continue

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Prepare to pay more for fruit, macaroni and cheese, and furniture

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As the supply chain crisis worsens and labor shortages persist, inflation is rearing its bad head in America.

This combination of factors is putting pressure on companies that are dealing with high input costs and are offering higher wages to lure employees. In turn, firms say they are being forced to raise prices on their products in order to remain competitive.

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Over the summer, Granthshala Business provided a round-up of companies raising their prices, including Chipotle, ConAgra, General Mills, and Kimberly Clark.

Here’s another list of the big names whose own price hikes might pop up in your pocketbook:

del monte

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Del Monte raises fruit prices due to inflationary pressures

Fresh Del Monte Produce Inc. recently announced that it would increase the prices of bananas, pineapples and freshly cut fruits, but did not disclose how much the item would increase.

anchor the protection The last Change Change %
FDP fresh del monte 29.05 -0.11 -0.38%

Mohamed Abu-Ghazaleh, CEO of Del Monte, said, “Despite our efforts to reduce these rising costs within our supply chain, they are too great to absorb. Unique costs remain persistent and show no signs of regulation. shows.” “After careful consideration, it is necessary to implement inflation-appropriate price increases in an effort to maintain our continued supply and service levels.”

Ikea

IKEA owner to hike prices amid supply chain challenges, warns increase could last until 2022

Inter IKEA Group, owner of IKEA furniture, said last week that the company would increase prices during the 2021 fiscal year after absorbing the increased costs at its end which would rise to next year.

An IKEA spokesperson said in a statement to Granthshala Business, “As many other retailers, we face challenges with availability and supply impacted by global shipping disruptions. We are constantly working to improve the availability of our products. ” “We have and will do our best to keep our prices as stable as possible – yet it is hard to predict how global disturbances may affect them in the coming months.”

kraft henzo

kraft henzo

Inflation is across the board, people need to get used to higher prices: Kraft Heinz CEO

anchor the protection The last Change Change %
Different Kraft Heinz Company 37.35 +0.15 +0.40%

in a letter received by CNN Business, Kraft Heinz told a regional grocery distributor that starting January 9, the company will raise prices on hundreds of items—including a 20% increase in the 7.25-oz. Price increase of up to 16% for certain varieties of Kraft Big Bowl Mac & Cheese and Jell-O products.

The company confirmed to the outlet that it has increased the prices of 80% of its products by an average of 5% “to help offset the rising inflation that the entire industry is facing.”

mondelez

oreo

anchor the protection The last Change Change %
MDLZ Mondelez International, Inc. 62.24 +0.36 +0.58%

CNN also reported that Mondelez, the maker of Oreos and Chips Ahoy cookies, will increase its prices on the products by 6% to 7% in 2022.

According to the report, Mondelez CEO Dirk Van de Put said during the company’s earnings call last week, “We are increasing the prices, and we plan to increase the prices of … the company.”

Procter & Gamble

Procter & Gamble

Procter & Gamble combats inflation with price hikes across most categories

anchor the protection The last Change Change %
PG Procter & Gamble Company Limited 145.39 +0.44 +0.30%

Cincinnati-based consumer goods giant Procter & Gamble Co. said last month that it would implement the price hike on its beauty, skin care, oral care and other products within the next 90 days.

The firm has already increased the prices of its baby, feminine care and family care products. All told, nine out of 10 of Procter & Gamble product categories will see price increases.


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