Snack time is likely to get more expensive next year as prices rise on Fruit Roll-Ups, Annie's Cheddar Bunnies, Yoplait yogurt, and more.
General Mills, the parent company of dozens of popular grocery brands, has notified its buyers that it's raising wholesale prices by as much as 20% in January 2022 thanks to higher labor and materials costs, CNN reports. That price hike will almost certainly filter down to shoppers, who will pay more for familiar products including Betty Crocker cake mix, Pillsbury dinner rolls, and Cheerios.
The rising prices follow a global trend as the pandemic's effects on logistics, supply chains, and production are still being felt across almost all industries. Groceries are among the hardest hit, with prices up 5.4% in October compared with the same time in 2020.
General Mills is just the latest company to announce upcoming price hikes due to inflation. Kraft Heinz will be increasing prices on its iconic macaroni and cheese and Ritz crackers, Oreos from Mondelez will see a big jump in 2022, and Tyson chicken tenders will get more expensive. It will all add up to a forecasted high of 8% inflation on grocery and household items next year, and an even bigger strain on consumers' wallets.
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