Peanut Butter Prices On The Rise

Shoppers may look twice at the price of peanut butter on the shelf.

Big brands like Jif, Skippy and Peter Pan are raising their prices due to a hot and dry summer that devastated this year's peanut crop.

According to the Wall Street Journal, Kraft Foods will raise its prices 40 percent beginning Monday. The company launched Planter's Peanut Butter back in June. Jif will increase its price by 30 percent starting in November. Peter Pan will mark up its prices by 24 percent in a couple of weeks.

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