Grocery items are getting more expensive, and food manufacturers admit the end isn't in sight. Mondelez, the maker of Oreos and Ritz Crackers, just revealed its prices are going up 7% and stores may have low supplies of its beloved snacks.
However, the snack aisle isn't the only aisle at your local supermarket where price tags are increasing. Kraft Heinz is also about to hike prices, meaning items are about to get more expensive storewide. In fact, it's the second time in only a few months that the company is doing so.
Be prepared to pay $1+ more for certain grocery items.
In a letter, Kraft Heinz told customers that the prices of certain household staples would go up between 6.6% to 30%. The company said the increases were the result of "constrained supply, logistic bottlenecks and weather-driven crop losses."
To put things into perspective, the current inflation rate is about 7% higher than it was a year ago (which is the highest it's been in decades).
Which products are going up in price?
If your grocery list includes Velveeta or Oscar Mayer meats, get ready to divvy up more for these items in the coming weeks, according to CNN.
"The increases range from 6.6% on 12 oz. Velveeta Fresh Packs to 30% on a three-pack of Oscar Mayer turkey bacon," the outlet's Nathaniel Meyersohn reports. "Most cold cuts and beef hot dogs will go up around 10%."
And that's not it . . .
The prices of some beverages are also going up.
From coffee to school lunch drinks, also expect to pay more for beloved beverages on your shopping list. Maxwell House java is reportedly going up around 5%, while certain Capri Sun and Kool-Aid options are increasing by 20%.
Here's how to save on your next grocery bill.
Though a Kraft spokesperson told CNN that the company was creating larger package sizes for certain products and making others more affordable, that doesn't ensure your next trip to the supermarket will be as cheap as it was in the days prior to the pandemic. For some handy money-saving tricks, read this article about how to save big.