Photo: Stephen DannWill consumers get the jarring truth about why peanut butter prices are suddenly chunky? So far, it looks like the media is feeding them a smoothed-over version that omits the impact of the climate crisis.
First, the bad news. As CNN Money reports, peanut butter prices have skyrocketed in a matter of days:
Kraft will raise prices for its Planters brand peanut butter by 40% starting Monday, while ConAgra has instituted increases of more than 20% for its Peter Pan brand that went into effect this month. J.M. Smucker , which makes Jif, will introduce price hikes of around 30% starting Tuesday.
Consumers, meanwhile, are already seeing these increases reflected at grocery stores.
The increased price of a low-cost, healthy staple is another blow to food budgets already spread thin. And that last bit of the story is a kick in the Fluffernutter, isn’t it? Grocery stores paid the old, lower price for the jars on their shelves — but they’ll charge you the new, higher price.
So why the need to raise prices?
While spokespeople for several grocery chains declined to provide specific pricing figures, t... Read more