Report: General Mills to Raise Some Prices By 20% in January

Price hikes will reportedly happen on hundreds of items across dozens of the company's brands.

General Mills' cereal plant in Sharonville, Ga.
General Mills' cereal plant in Sharonville, Ga.

News of rising food prices has frequented headlines in recent months, and there doesn't appear to be any reprieve in the near future.

CNN Business reported Nov. 23 that General Mills plans to raise prices on hundreds of products across dozens of brands early next year, and by a considerable amount.

Citing a General Mills letter provided by an anonymous wholesaler, the report says that the company will raise prices in mid-January on brands that include: Annie's, Betty Crocker, Cheerios, Cinnamon Toast Crunch, Fruit Roll-Ups, Lucky Charm's, Pillsbury, Reese's Puffs, Trix, Wheaties, and more."

CNN cited the letter saying that the price of some items will jump by around 20 percent.

"A leader at the company (wholesaler) said it plans to push along all of the increases to its grocery and convenience store customers," the report said. "He expects they will then pass them down to shoppers."

CNN noted that the news is just the latest concerning price hikes among major food producers, joining the likes of Tyson, Kraft Heinz and Mondelez.

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