Business

Hershey Raises Chocolate Prices

Hershey announced that it will be raising the price of its candy bars due to the rising cocoa prices.

The price will increase by eight percent, and it’s the first time Hershey has raised its prices since 2011, according to Consumerist.

“Over the last year key input costs have been volatile and remain at levels that are above historical averages,” said Michele G. Buck, president of the North America The Hershey Company. “Commodity spot prices for ingredients such as cocoa, dairy and nuts have increased meaningfully since the beginning of the year. Given these trends, we expect significant commodity cost increases in 2015.”

You can buy your favorite Hershey candy at the current price directly from the company until Aug. 12, according to Fox News.

Kraft and Nestle are also expected to increase the prices of their chocolate products.