Costco Says These 8 Items Are About To Get More Expensive
The pandemic has slowed down significantly (thank goodness), but its effects are still impacting the way you get your groceries. This is according to Richard Galanti, chief financial officer at Costco. This week, Galanti reported on Costco's latest earnings, blaming lags in the supply chain for impending price increases on eight of the everyday groceries you buy. We have the list.
According to CNBC, Galanti said that Costco's prices will soon rise because "inflationary factors abound." He continued: "These include higher labor costs, higher freight costs, higher transportation demand, along with the container shortage and port delays … increased demand in various product categories some shortages, various shortages of everything from chips to oils and chemical supplies by facilities hit by the Gulf freeze and storms and, in some cases, higher commodity prices."
In short, which common Costco items are about hit your wallet harder? Read through to find out—and don't miss 9 Summer Costco Items Members Are Stocking up on Big-Time Right Now.
This one has been generating big buzz on social media: Costco's paper products have been affected by a pulp shortage. The Seattle-based chain has even made some changes to the size of some popular paper products.
Some Costco members know their aluminum foil lasts ages. Unfortunately, Galanti said Costco has "been seeing accelerating prices across a range of products," and aluminum foil was one of those he listed.
Galanti reported that Costco meat prices have gone up 20% in recent weeks. (But check out the new burger Beyond Meat has just launched.)
Costco has "cited price increases," states CNBC, "for an assortment of plastic products"—reportedly up to 8%. This may be a good time to try more sustainable types, like this list of 20.
Soda buyers at Costco may notice a hike in these products, as well.
Costco is known for a great cheese selection, but this news could affect those burgers on the grill. Cheese was another product on Galanti's list of Costco groceries that are about to get more expensive. (The good news is, they've brought back a popular summer sweet treat.)
There are lots of amazing facts about Costco's rotisserie chicken, as many customers know. Galanti said the popular item—currently at just $4.99 for an easy dinner—could soon increase in cost.
Just as you're about to get thirsty this season, bottled water prices could balloon, Galanti said. If you're looking for creative ways to stay hydrated, don't miss One Major Effect of Eating Watermelon This Summer, Says Science.
Sign up for the Eat This, Not That! newsletter for breaking grocery news you need, and keep reading:
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