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Hershey Is Raising Chocolate Prices by Double Digits — Here’s Why [1]
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Date: 2025-07-24 16:16:59.206000+00:00
Inflation has now come for your Kit Kat bar.
Hershey announced in a statement on July 22 that it will be raising the price of its candy as a result of the rising costs of cocoa.
The maker of Reese’s Peanut Butter Cups, Kit Kats bars and its signature chocolate bars said in a statement that it informed its retail customers a week earlier that prices will go up by a percentage in the “low double digits.”
The Pennsylvania-based company also said in its statement that the increase is not related to tariffs, while adding that 75% of its candy offerings will still cost less than $4.
The price of a Hershey's chocolate bar is going up due to the increased cost of cocoa produced by West African nations. Getty Images
Hershey cited the rising cost of cocoa due to various factors in Ghana and Ivory Coast, which account for roughly 60% of the world’s cocoa production. The countries have been hit by heat waves and crop disease that have hampered output.
The company emphasized, however, that the price increases won’t apply to products specially packaged for Halloween.
Cocoa prices climbed to a record high in December 2024, surpassing $12,000 per metric ton. They are now trading at about $8,500 per metric ton, which is still significantly higher than the $4,500 they were trading at in January 2024, according to CNBC.
Hershey also said it may have to change the size of its packaging due to the rising prices. The practice is commonly known as shrinkflation, where companies charge the same price for a lesser amount of their product.
Hershey chief executive Michele Buck previously said on an earnings call in May that the company could be raising prices or reducing the size of its packaging.
Hershey isn’t the only chocolate maker potentially rising prices as Swiss food giant Nestle said on July 24 that its costs could rise in the second half of the year, according to CNBC. Lindt & Spruengli and Mondelez, the maker of Oreo cookies, also have announced higher prices, according to The Wall Street Journal.
The rising cost chocolate candy comes at the same time beef prices have hit record highs. The rise in those two commodities has hit after “eggflation” famously became a popular topic in the grocery aisles.
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[1] Url:
https://www.today.com/food/news/hershey-chocolate-price-increase-rcna220791
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