Consumer
Hershey Raising Candy Prices by Double Digits on High Cocoa Costs
A worker stocks shelves with Hershey Kisses at Hershey's Chocolate World in Hershey, Pennsylvania.
Photographer: Luke Sharrett/BloombergHershey Co. is raising prices on its candy due to historically high cocoa costs.
The Pennsylvania-based maker of Hershey’s chocolates and Reese’s Peanut Butter Cups told its retailers last week that it would be implementing a roughly double-digit price increase, company officials said Tuesday. That increase reflects a higher list price as well as adjustments to the weight and number of candies in a bag, a practice known as shrinkflation.