Manufacturers of everything from cereal to refrigerators say they have absorbed price increases as long as possible and will now start passing along those costs to consumers.
Who's to blame? It depends. A cold snap in Mexico means potential shortages and higher prices for cucumbers and tomatoes. The Chinese economy is growing strongly, and it is gobbling up everything from oil to grains to metals.
Bad weather for cotton growing in Pakistan, China and Australia is fueling a historic rally in cotton. Cotton prices have doubled over the past year and will certainly translate into higher prices for T-shirts and underwear.
Hanes, Nike, and Polo Ralph Lauren are just some of the brands whose prices will rise, because of price increases for cotton, wool and cashmere.