Hershey Raising Prices An Average 11%

  • August 18, 2008
The company said on Friday that the move--the second of its kind this year--is intended to battle soaring commodities costs.

The immediate increase was necessary to offset "significant increases" in the cost of raw materials such as sugar, cocoa and peanuts--up as much as 45% since the start of the year--as well as the growing cost of fuel, utilities and transportation, Hershey said.--Nina M. Lentini

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