Red-hot inflation has been showing up in tangible form in everyone's grocery bills throughout 2021. Is there relief on the horizon in the new year? Not so much. The Wall Street Journal surveyed several major food manufacturers and finds that prices for just about everything will keep rising. Kraft Heinz, for example, projects an average price increase of 5% for its products, though some will go as high as 20%. Fans of the company's Grey Poupon mustard should brace for a hike of up to 13%. Another big name, Mondelez International, plans to raise the price of its cookies, candy, and other goodies by up to 7% starting in January. General Mills also will be raising prices next month. Produce, dairy, bread, juice, mac-and-cheese, frozen meals, mayo—you name it, it's probably going up.
"There’s nothing immune," says Tony Sarsam of of food retailer and distributor SpartanNash Co. The story cites by-now familiar problems, including supply-chain issues and higher labor and packaging costs. Not surprisingly, this will not only affect those who cook at home but those who eat out, notes Mashed. The costs of some items have risen higher than others over the past year, including beef (24%), bacon (20%), and eggs (12%), and no short-term relief looks to be in sight. Virtually all restaurants surveyed report major supply-chain problems with key ingredients, and menu prices are on track to keep rising. The Cheesecake Factory, for example, just raised prices 3% and may add another 2% in 2022. (Read more food prices stories.)