Source: Funko/The Toy Book

After working to avoid price increases on its base products for more than five years, Funko announced price increases on select products beginning today.

The formal statement issued on the Funko blog confirmed messages sent to the company’s fanbase via email and the Funko app in recent weeks. Today’s price hikes are driven by the increased cost of raw materials paired with the increased shipping costs that all companies in the consumer products space have been dealing with over the past year.

“Funko has held off on price increases for years, although the current global production and shipping situation has necessitated this change which will affect our in-store and online prices …We wanted to inform our fans and community upfront, and we appreciate your understanding and continued support,” the company said.

RELATED: The Supply Chain Saga Continues: The Toy Industry Faces Its Most Complex Challenge Yet

Funko’s $10 Pop! Vinyl figures look to have hit the $12-$15 range as of this writing which brings them in line with the previous MSRP for retailer and convention exclusives.

The company will report its third quarter earnings on Nov. 4, 2021.