It certainly feels like everything is getting more expensive. Just look at gas prices or Thanksgiving turkey dinner for an example. Even Dollar Tree is raising prices to $1.25.
- Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm’s, Wheaties, Reese’s Puffs, Trix and many others are the target for the price increase.
- A 20% price increase is expected.
- If General Mills customers — such as supermarkets, drug stores and other chains — also raise prices, then basic grocery items will become very expensive for a shopper, per CNN.
The General Mills’ letter was shared with CNN by a wholesaler. General Mills has not provided comments on these developments.
Per the report, grocery prices are experiencing a sharp rise in prices after a stagnation period between 2015 to 2019. And with General Mills’ plans, it's clear that rising prices aren’t going away any time soon.
Consumer prices surged 6.2% from October 2020, making it the largest surge since 1990, as previously reported by Deseret News
- Consumers are highly concerned about these rising prices. Deseret News reported that 85% of Utahns were concerned about inflation.