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August 31, 1995
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Send to KindlePackaging causes hike in cereal prices
Citing cost increases for both packaging and grains, General Mills, Minneapolis, MN, increased the wholesale prices of its cereals in early August by 2.9%, according to a report in Advertising Age.
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This follows an earlier announcement that Ralcorp Holdings St. Louis MO was increasing prices of private-label cereals it packs. General Mills had embarked on a value-pricing strategy for cereals 16 months ago when it cut prices an average of 6%. Industry analysts agree that General Mills was hit by "genuine legitimate" cost increases but few expect major competitors to follow suit.
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