Campbell's and Conagra Raise Prices Amid Rising Costs
Campbell's Co. and other major food companies are increasing consumer prices due to rising energy costs, import tariffs, and severe weather patterns.
Several major U.S. consumer goods companies are raising prices to offset rising energy, fertilizer, and packaging costs, alongside the impact of import tariffs. Campbell's Co. plans to increase prices by 4% to 5% on approximately 60% of its product line. Conagra Brands Inc. has notified retailers of price hikes for brands including Healthy Choice and Banquet, effective late September, while Clorox Co. is raising prices on cleaning products, food, and trash bags.
These price adjustments follow sustained inflation and are exacerbated by the most powerful El Niño weather pattern in 76 years and energy costs linked to the U.S. war with Iran. While some firms like General Mills Inc. and Kraft Heinz are attempting to absorb costs or limit hikes, the broader trend is straining consumers.
Retailers such as Kroger Co. have already reduced sales forecasts, citing slowing item volume. The inflationary pressure is particularly acute for low-income families, who are increasingly shifting toward smaller pack sizes and cheaper store brands.
