2 major food companies plan to raise prices next year

Mondelez, Kraft Heinz says expect to pay more for its products

Kraft Foods Group (Kevork Djansezian/Getty Images)

Everything seems more expensive these days, from gas to food.

Now, two snack food companies say they’re going to raise prices.

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Expect to pay more for things like Oreos and Easy Mac as Mondelez and Kraft Heinz charge more for their products.

Mondelez indicated on an earnings call it plans to raise prices on brands including Chips Ahoy, Ritz and Sour Patch Kids by 7% next year.

The company’s CEO says that’s to combat inflation, which he pegs at hitting 6% in 2022.

Meanwhile, Kraft is already reaping the benefits of charging consumers more.

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The company said its higher than expected profits came from raising prices on most of its products by 5%.

Expect those hikes to continue.

One grocery distributor reports it received a letter from Kraft indicating it plans to raise prices of some varieties of Jell-O and pudding going up by 16% and some of its macaroni and cheese products will jump 20%.

The company reportedly warned prices on hundreds of its products will go up next year.

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