Consumer alert: Manufacturers warn of price increase for house hold staple

Monday, April 5, 2021
NEW YORK -- A number of manufacturers are warning that a trip to the grocery store may cost more for Americans in the coming weeks.
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Diapers, paper products and cereal are likely to see price increases as early as this June, analysts say. Pet owners should expect cost surges in food products like Kibbles 'n Bits, Milk-Bone and 9lives.

Hormel Foods and Smuckers have already raised their prices for Skippy and Jif peanut butters.

The reason? Companies are paying higher freight, manufacturing and shipping fees. Products for ingredients like grain and pulp, which goes into paper products, are also more expensive than they were last year.
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The COVID-19 pandemic is partially to blame -- Americans are buying up home staples, pairing more demand with limited and/or inefficient supply chains, and leading to higher prices.

The supply chain is also still seeing residual effects from the record-breaking winter blast that hit Texas and other parts of the South, causing many chemical plants to shut down.

And even though the maritime traffic jam caused by the Suez Canal's blockage by a cargo ship has eased, it is costing the global supply chain $10 billion to $15 billion per day.
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