I think this is the second thread on this board about peanut butter prices going up. When I saw the first thread, I checked out prices, and they were only up about 20 cents (for a small jar of Jif).
The next week, when I was ready to buy, one supermarket had them on sale, only they were sold out. The week after - that's this week - they'd gone up another 40 cents.
Okay, so that's a 60 cent increase in a short time. And it sounds like the price will go higher, but there's a reason: a bad peanut season.
Now... I also needed a jar of Ragu spaghetti sauce. The price in the same amount of time has increased by over a dollar! And that bad tomato season was a couple of years ago, so what's the explanation for that????