#consumer-prices

#consumer-prices

Companies blame higher costs for prices increases - but analysis by the 'Sunday Independent' reveals combined operating profit among 18 popular brands is up over 62pc since 2021, to €416.8m The food industry is blaming higher costs as the main driver of soaring prices - but analysis by the Sunday Independent shows major brands across the sector are reporting bumper profits, explaining at least some of the price hikes.

"Everybody was front running tariffs. They were basically buying things at a discount to their future cost," said Dryden Pence, chief investment officer of Pence Capital Management.

The U.S. government has imposed a 17% duty on most fresh Mexican tomatoes, aimed at supporting the domestic tomato industry amidst growing reliance on imports.

"By acquiring Kellanova, Mars will add several very popular brands of potato chips and cereals to its already broad and strong product portfolio," said EU competition chief Teresa Ribera.

While many retailers are adjusting their pricing strategies due to tariffs, Costco has opted to buy more US-made items and reroute inventory to mitigate costs.

Strawberry season in the UK has arrived ahead of schedule this year, with growers attributing the early bounty to a combination of warm days, cool nights, and ample sunshine.