Hershey is announcing it is increasing its costs on consumers by double digits. The company says it's not related to tariffs but to the sky-high cost of cocoa. NBC’s Brian Cheung joins TODAY to break down the rising prices.

In a May earnings call, Michele Buck, president of The Hershey Company, said the candy company would lean into products that are "less Cocoa intensive" as it navigates the inflation of cocoa prices. This is part of the company's vision to become a "snacking powerhouse" Buck said.

Hershey told its retail partners it is raising prices by a percentage in the “lower double-digit range” over what its chocolate products cost over the past couple years, a company spokesperson confirmed to CNN. The culprit: high cocoa prices. Bloomberg first reported the increase.