Forget what the Fed says, inflation is here

Inflation nation: Prices on the rise

Now that we've heard from more than three quarters of companies in this earnings season, there's a trend: Companies across industry groups—from food to technology to health care—are raising costs for the consumer.

Hershey, for instance, announced it's raising prices by an average of 8 percent across the majority of its portfolio in the U.S. Hershey makes chocolate and snacks that include Reese's, Kit Kat, Twizzlers and Ice Breakers gum and mints.

"Commodity spot prices for ingredients such as cocoa, dairy and nuts have increased meaningfully since the beginning of the year," a Hershey executive said in a statement.

Mars, the company behind M&Ms and Snickers, quickly followed, announcing a 7 percent increase in prices in North America for the first time since 2011.

It's not just chocolate.