The Hershey Company on Tuesday confirmed media reports it is raising candy prices as it battles rising cocoa costs.The price change will be a "low double-digit increase" and affect products across the company's confection portfolio,

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.

Rising ingredient costs prompted Hershey to raise prices on chocolate products, and the company noted the change is unrelated to tariffs or trade policies.