Mondelēz International, the company behind snacks including Oreos and Sour Patch Kids, announced in a call with investors that U.S. customers can expect prices for their products — including Chips Ahoy! cookies, Ritz crackers and Toblerone chocolate — to increase by 6-7% beginning in the new year.
In a statement to NPR, the company said it’s seeing inflation in many markets — particularly in North America — and it expects that to continue into next year. “This is due to the cost of commodities, transportation and packaging,” it said, adding that labor shortages are also a factor.
But despite higher prices, the company says the demand for snacks has not diminished — the pandemic may have even increased it.
Mondelez isn’t the only company to boost prices in response to increasing costs and other factors. Unilever — which makes products including Dove soap, Lipton tea and Klondike bars — announced price increases of around 4% last month. And McDonald’s expects to raise its menu prices by 6% this year.
