Next year, General Mills will raise prices on hundreds of products.
The inflation rate for consumers reached 6.2% in the United States during the month of October, and food companies such as General Mills are passing their higher input costs on to consumers.
CNN Business reported:
General Mills (GIS) notified retail customers that it’s raising prices in mid-January on hundreds of items across dozens of brands. They include Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm’s, Wheaties, Reese’s Puffs, Trix and more, according to letters General Mills sent to at least one major regional wholesale supplier last week.
For some items, prices will go up by around 20% beginning next year.
The wholesaler shared General Mills’ letters with CNN Business on the condition