Your next Costco run could be more expensive as the company warns of expected price hikes for key goods, including trash bags, cheese, plastic plates, and beef

Your next Costco run could be more expensive as the company warns of expected price hikes for key goods, including trash bags, cheese, plastic plates, and beef

Costco Chief Financial Officer Richard Galanti called out rising inflation in the big box company's Thursday earnings call, noting that selling prices for staples like paper goods, meat, cheese, and trash bags are up. Galanti rattled through a number of "inflationary soundbites" with analysts on the call and shared a number of products experiencing spiking prices, as well as the reasons for rising costs. He said that "items shipped across the ocean" have seen "suppliers paying up to double for containers and shipping." Cheeses in particular are curdling consumers' wallets, in part due to freight costs and the strength of foreign currencies. Mid-single-digit cost increases for metals and aluminium foil could leave a bad aftertaste for shoppers seeking sodas and other canned beverages. A post-pandemic wardrobe refresh could also become more expensive; Galanti said that certain apparel items are up 3% to 10%. Computer chips, oils, and chemical supplies could see spikes, thanks to product shortages. Paper products could cut into budgets, as rising pulp prices send prices surging 4% to 8%. Meat is increasingly expensive, rising 7% year over year. Carnivores could get hit with a 20% surge for certain beef products in the last month, according to Galanti.