Skip to comments.Companies raise prices on food, shoes, diapers (Heinz, Nike & Kraft)
Posted on 03/20/2011 5:46:29 PM PDT by NRG1973
Look out! From Huggies diapers to Nike shoes, Americans are about to get less bang for their buck on some of the biggest brands.
This week, paper-products maker Kimberly-Clark announced plans to raise prices on diapers and toilet paper later this summer. Nike said it would increase prices on their shoes. And food companies Kraft, Smuckers and Heinz recently announced price hikes on some of their brands.
"The increases are necessary to offset inflationary pressure from higher raw material and energy costs," Kimberly-Clark (KMB, Fortune 500) said in a press release.
Huggies diapers and Pull-Ups prices will rise by 3% to 7%, the company said. Cottonelle and Scott 1000 toilet paper will rise about 7%.
Kraft Foods (KFT, Fortune 500) raised its price on Maxwell House coffee by 22%, or 70 cents per pound, after Smuckers (SJM) said last month it would raise the price of Folgers by 10%.
The increases come as major brands struggle to keep their profit margins intact, amid surging costs on raw materials. Producer prices rose 1.6% in February alone, the the biggest jump in nearly two years, according to government data released Wednesday.
Until recently, producers and retailers resisted price hikes, fearing they would lose customers during a still-sluggish economy and high unemployment.
(Excerpt) Read more at money.cnn.com ...
Now the government comes after then telling them no to raise prices, like Zimbabwe.
We print money but you no raise tha prices!!! Is profiteering against tha peeple!!
Thank goodness for my COLA.....NOT!! 2 years in a row!!
“Cottonelle and Scott 1000 toilet paper will rise about 7%.”
Pretty soon, we can just use our worthless dollar bills....
Coffee prices go up and down. Even after the recent increases, it still costs less than it did in 1979 when it was $10.74 for the large can.
The increase in paper costs is more of a concern I think.
This can all be fixed in 6 months, but there is no political will to do what’s required.
I do not buy products even American ones that are run by and for liberals such as GM, GE, Heinz, Pepsi, Dole, etc.
I boycott their products and refuse to buy them.
However I do buy products from Ford, Coca Cola, etc.
It’s going to be interesting what the regime will say when it’s time for the seniors to get their yearly COLA. If the Republicans were in power imagine what the media would be yelling over the past two times they didn’t get one.
Great minds and all that rot.
You beat me to it, barely!
That SOB should be removed/fired post haste.
Of course there is "no inflation" as those A-Holes continue to REFUSE to consider 2 of the biggest everyday expenses, food and fuel in the CPI.
Bernanke and Geithner are morons along with their boss, Obama.
These dumbasses need to go, the sooner, the better.
I can’t wait for 2012 to register my anti Obama vote.
I've been wondering how long 0bama can get away without giving a COLA to Social Security recipients. I suspect the BLS will find a way to give out a small COLA this year...but it will not match the runup in prices.
By understating inflation the BLS helps the federal government in 2 ways. One, it allows them to give out smaller Social Security COLA's than what they should. And, two, tax brackets are indexed to inflation so workers are hurt by "bracket creep".
” its time for the seniors to get their yearly COLA. “
You mean the “Greedy, selfish, useless eater parasites that are bankrupting the country”, don’t you??
Very unlikely IMHO.
As long as they make significant donations to the 2012 re-election campaign, they're good to go.
The Baraqqi economic model is crony capitalism.
Yeah. It’ll be interesting to see what they say the inflation rate is/was for this year and what they’ll tell the seniors. It seems that the government workers get their COLA right on time regardless of inflation.
Yeah, them! Although my ex-mom in law is a pretty decent person.
Do you have a good site to share that tells you exactly WHO owns WHAT these days?
It’s hard to keep up...
Hyper inflation is on its way. THe more money the goverment prints, the less our dollar is worth. It will catch up with us sooner or later, and it looks like its well on its way.
I’m almost sure that the zero administration knew what it was doing with all the bail-outs, stimulus bills, etc. They are all working toward a one-world currency, as foretold in the Book of Revelation.
In order for this to happen, the American dollar has to be devalued in the world economy. Many countries are looking toward a new standard - not the American dollar.
We’ve also seen some states put forth alternative forms of currency, such as Utah. It all makes sense.
God help us. I’m not sure these policies can be changed, even if we win the WH in 2012. Things are escalating almost to a point of no return.
This is impossible. Helicopter Ben tells us so.
“Excluding the volatile energy, food, shoes and diapers sectors, we see no inflation on the horizon at this time.”
- Ben Bernanke, 03/21/2011.