It’s going to cost more to get your chocolate fix.
The maker of M&M’s and Snickers said Wednesday it will increase prices by an average of 7 percent because of rising costs for ingredients. The announcement by Mars Chocolate NA comes about a week after No. 1 candy maker Hershey Co. said it will increase prices about 8 percent, Reuters said.
“In the three years since our last price increase, in March 2011, we have invested significantly in the category and have experienced a dramatic increase in our costs of doing business,” a Mars spokesperson said in an email to Reuters.