Your Cheerios might get a bit more expensive next month. WSJ has the scoop:
General Mills Inc. said it will increase prices next month on a quarter of its breakfast cereals as a result of rising grain and other commodity prices, illustrating the pressures more companies face to pass along sharply higher costs on everything from corn to copper.
The Minneapolis food supplier said some cereals will increase by a “low single-digit” percentage rate effective Nov. 15. Kraft Foods Inc. is also raising prices, according to people familiar with the matter, although its scope wasn’t clear. A Kraft spokesman declined to comment.
Dr. Duru