These Two Popular Peanut Butters Are About to Skyrocket in Price
Hold the bread and the jelly — the price you pay at the grocery store for two popular peanut butter brands is about to increase, along with other items.
Both Jif and Skippy already are or will be more expensive thanks to previous winter storms, the ongoing pandemic, truck driver shortages, shipping fees and delays, and even the recent block of the Suez Canal by a cargo ship. J.M. Smucker already raised the price of Jif peanut butter last fall when peanut crops fell and its costs went up, according to CNBC and ABC News. Competitors like Skippy are doing the same. (Related: Grocery Shortages To Expect in 2021, According to Experts.)
"In this case, and particularly in peanut butter, it was very clear that we were experiencing cost pressure and could demonstrate that to our trading partners and so forth," J.M. Smucker's CEO, Mark Smucker, said last November. Eat This, Not That! has reached out to both companies for more information.
If this info sparks some déjà vu, we don't blame you. Late March and early April 2020 were quite hectic for grocery store suppliers and shoppers. But this time there isn't likely to be any bulk-buying or severe shortages that last for months.
However, several other products will cost you more, too, with the average cost of groceries going up 3.5% since this time last year, according to the U.S. Bureau of Labor Statistics. Hormel (which also owns Skippy) is raising prices on ground turkey because of higher poultry feed costs, and General Mills is hiking up boxes of Cheerios thanks to freight manufacturing costs.
Not to worry, there are ways to save on your next trip. Here are 30 Shopping Hacks to Save Money at the Grocery Store. And to get all the latest news on the items on your grocery list delivered right to your email inbox every day, sign up for our newsletter!