Clorox’s Kingsford raised prices on charcoal going into peak grilling season. But rival brands didn’t do the same, pointing to a risk of greedflation.
The company that owns Kingsford charcoal just got burned by its own price increases.
Like many consumer products makers, Clorox raised prices during the last quarter, Reuters reported on Tuesday. That included price hikes on Kingsford, Clorox’s charcoal brand, CFO Kevin Jacobsen told Reuters.
There was just one problem: Competitors, including store brands at retailers like Walmart, didn’t increase prices as fast, Jacobsen said. According to Reuters, eight pounds of Kingsford Original Charcoal briquettes, for instance, cost $7.92 on Walmart’s website this week.
