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The Cereal Killer
We all love a good bowl of cereal every now and again—in fact, some of us have been known to eat it for breakfast and dinner! Cereal has long been considered a frugal living staple in the household pantry...but now, a box of Special K or Golden Grahams might seem like a luxury item.
General Mills has reported that they’ll be raising their prices in an effort to help offset costs. For them, there’s the cost of whole oats and grains to make the cereal, the cost of natural gas used to process everything, and then the cost of fuel to haul their stuff around the country. According to CEO Ken Powell, they’re streamlining their processes, but with a 17% loss in the Q4, they needed to find a way to recoup.
So, all you General Mills cereal fans beware. The already expensive boxes of cereal are going to increase in price even more. To save a few bucks, consider getting the store brands in the bags. Ultimately, you’re just paying more for the box and the name brand anyway.
Do you prefer the name brand to the generic? Will a price hike make you reconsider? [USA Today]