Oreos, Sour Patch Kids will get a price increase
The maker of Oreos and Sour Patch Kids, Mondelēz International, announced Thursday that customers should expect prices to rise for their products beginning in the new year, NPR reports.
Driving the news: The company, which produces over 150 brands, expects prices to rise 6% to 7%; it's the latest example of global supply chain issues that make products more expensive.
The big picture: Chief Financial Officer Luca Zaramella said in a call Tuesday, per NPR, that transportation costs and "industrywide supply chain constraints" are factors responsible for increase in prices.
- "This is due to the cost of commodities, transportation and packaging," the company said in a statement, adding that labor shortages are also a factor.
- Mondelēz, which includes household name like Chips Ahoy!, Philadelphia, Sour Patch Kids, and Toblerone, said the demand for snacks still remains while the COVID-19 pandemic also increased it.