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Photo: Jakub Porzycki/NurPhoto via Getty Images

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.

Go deeper: Consumers expected to pay up for holiday shopping

Go deeper

Manufacturing signals supply chain breather

Data: Institute for Supply Management; Chart: Axios Visuals

Manufacturing activity continued to tick up last month as pockets of the supply chain showed signs of relief, according to a new survey from the Institute for Supply Management.

Why it matters: Despite facing nearly two years of supply chain and consumer demand anomalies, manufacturers continued to increase their output for the 18th month in a row.

Updated 2 hours ago - Politics & Policy

Congressional leaders clinch support for crucial defense bill, debt limit votes

Senate Majority Leader Chuck Schumer passes waiting reporters on Tuesday. Photo: Eric Lee/Bloomberg via Getty Images

Congress has found a shortcut to pass its annual defense funding bill and raise the debt limit.

Driving the news: The House voted Tuesday night on two major bills — one creating a one-time, fast-track process for the Senate to raise the debt ceiling with just 51 votes, and another passing its annual defense bill.

House passes annual defense bill

Speaker of the House Nancy Pelosi. Photo: Chip Somodevilla/Getty Images

The House voted to pass the annual defense bill 363-70 on Tuesday night, authorizing nearly $770 billion in funding for defenses and national security programs.

Why it matters: The National Defense Authorization Act (NDAA) still has to clear the Senate, but the House passage greatly increases the chances that the must-pass defense bill will move through both chambers of Congress before the end of the year.