A fresh wave of supermarket price hikes is expected to begin in January, raising prices anywhere from 2% to 20% on a slew of staples including pasta, condiments, soups, cookies, produce, dairy products, and meats, according to a report, The NY Post reports.
Everything from coffee to mustard is getting more expensive next year. We have the highest inflation in years. Higher wage, material, and freight costs are prompting industries from manufacturing to retail to raise prices of goods, reports the Wall Street Journal.
“There’s nothing immune from price increases,” said Tony Sarsam, chief executive officer of food retailer and distributor SpartanNash Co., adding that produce, dairy, and packaged food such as bread and juice are among many items set to become more pricey next year.
Food prices are estimated to rise 5% in the first half of 2022, according to research firm IRI.
Mondelez International Inc. said recently that it was raising prices across cookies, candy, and other products sold in the U.S. by 6% to 7% starting in January.
General Mills Inc. and Campbell Soup Co said their price increases also would take effect in January.
The average price increase on Kraft Heinz products will be 5%, the company told the Journal, adding that some products like Grey Poupon mustard will increase by 6% to 13% because its production costs have risen by 22%.
The Food-at-home index, which includes grocery stores, rose 6.4% over the past 12 months with proteins including beef, poultry, fish, and eggs increasing by nearly 13%.
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These are taxes, people.
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