Hershey announced Wednesday it will raise U.S. retail prices later this fall due to the cost of cocoa remaining near record highs. Some of the company's products will see a price hike in the low double-digit percentages, while others will have a smaller pack size.

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 is expected to raise its prices for retail customers by double digits. Prices will generally increase between the low teens and 20 percent, The Wall Street Journal reported Tuesday, citing a company official. But the WSJ reports three-quarters of the candy maker’s products should continue to cost $4 or less.