Are prices increasing in 2021? Stock up on groceries now

poster consumer product inflation

Now’s the time to inventory up on your favourite non-perishables—earlier than prices rise much more. What’s taking place? Shopper product corporations are pointing to increased prices for issues like packaging, components, transport, and labor, they usually say they need to offset these prices by jacking client prices. Right here’s a rundown of the eyebrow-raising worth tags you’ll be able to anticipate to see this August:

  • Packaged meals. General Mills (Cheerios, Betty Crocker, Häagen-Dazs, Yoplait, Pillsbury), Campbell Soup (Goldfish, Prego, Snyder’s), J.M. Smucker (Jif, Folgers, Meow Combine), Kellogg (Frosted Flakes, Cheez-Its, Pringles), and Unilever (Hellmann’s, Breyers, Klondike) are simply among the meals producers that just lately introduced worth hikes. Common Mills says that its prices are going up 7%, and that whereas the corporate will compensate for half of that with inside cuts, its prices may also go up.
  • Used and Rental vehicles. A computer-chip shortage has restricted the manufacturing of recent vehicles, which has partially fueled a worth leap in used vehicles. Rental vehicles are additionally costly nowadays, as a result of through the pandemic, rental corporations sold their fleets to outlive.
  • Make-up and Toiletries. Unilever (Dove, Axe), Kimberly-Clark (Huggies, Scott, Rely), and Procter & Gamble (Tide, Gillette, Olay) are all boosting prices. Unilever already raised prices 1.6% in the second quarter. It had deliberate a sluggish, light rise in prices, however has since modified its tune, citing swiftly rising prices for just about every part (components, packaging, and transport). This week the company said increased prices are coming your means imminently. P&G said back in April that it will do the same this September. Kimberly-Clark is already increasing prices by 4-9%.

The take house: There has by no means been a greater second to purchase six containers of cereal and a three-pack of lotion on sale. If you already know you’ll use it, seize it now.