General Mills To Raise Prices On Yogurt, Cereal, Other Foods Due To Inflation

98cwitr

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General Mills To Raise Prices On Yogurt, Cereal, Other Foods Due To Inflation

General Mills (GIS) notified retail customers that it’s raising prices in mid-January on hundreds of items across dozens of brands. They include Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm’s, Wheaties, Reese’s Puffs, Trix and more, according to letters General Mills sent to at least one major regional wholesale supplier last week.

For some items, prices will go up by around 20% beginning next year.

Remember when politicians were concerned for the poor and working class and did things that helped us like ensuring government decisions didn't raise the prices of basic goods? Those were the days.
 

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Very little General Mill's makes are "basic goods". Mostly, it's highly processed convenience foods that are going to be sensitive to labor shortages in the economy.

I have not noticed a dramatic increase in price of commodity foods like rolled oats, soy protein, or vegetables.
 
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General Mills To Raise Prices On Yogurt, Cereal, Other Foods Due To Inflation



Remember when politicians were concerned for the poor and working class and did things that helped us like ensuring government decisions didn't raise the prices of basic goods? Those were the days.
When I was in second grade my dad was doing combat missions in Vietnam. He instructed my mom to give me a quarter a week allowance. My brother and I walked to a convenience store to spend our allowances. I used to buy a Hershey bar for a nickel, a kite for ten cents and a ball of string for fifteen cents.

Dollar Tree is raising prices from $1.00 to $1.25.
Dollar Tree hikes prices 25%. Most items will cost $1.25 - CNN
 
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timothyu

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Dollar Tree is raising prices from $1.00 to $1.25.
Guess my grandies won't be happy now with the 25 cents for allowance any more if they hear you talking about way back. Thank God MAD magazine was only 25 cents a month back then. They eventually priced themselves out of existence.
 
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The IbanezerScrooge

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Mean while over at General Mills:

General Mills said:
GENERAL MILLS REPORTS FISCAL 2022 FIRST-QUARTER RESULTS
  • Net sales increased 4 percent to $4.5 billion; organic net sales1 were up 2 percent
  • Operating profit declined 1 percent to $844 million; constant-currency adjusted operating profit was down 2 percent
  • Diluted earnings per share (EPS) totaled $1.02, down 1 percent from the prior year; adjusted diluted EPS of $0.99 was down 2 percent in constant currency
  • Company reaffirms full-year fiscal 2022 outlook

So, a decline of 1-2% in profit translates to a 20% price increase?
 
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FireDragon76

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Trying to cover future losses now that people are eating out again lol

Pretty much, yeah...

This isn't about suppossedly bad government policy, it's about typical capitalist greed.
 
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timothyu

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This isn't about suppossedly bad government policy, it's about typical capitalist greed.
I'll up you one and say this is part of the build back better agenda of Corporatism which is a global entity. You may have noticed almost everything is taking an organized 20% jump or more lately. Indebtedness is key during a shift in power.
 
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Very little General Mill's makes are "basic goods". Mostly, it's highly processed convenience foods that are going to be sensitive to labor shortages in the economy.

I have not noticed a dramatic increase in price of commodity foods like rolled oats, soy protein, or vegetables.
Many of those things don't require overseas travel. So in an ideal world, this would be a great opportunity to try healthy eating. But yeah, all these mega corporationss ship resources overseas to be turned into commodities and then shipped BACK here (in my experience: Asian countries are not huge western breakfast goods consumers). I'd like to believe that the cereals by those companies that are still made in North America would have their prices hiked but again, this is about profit for rich people...not the needs of the workers and middle class.
 
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Occams Barber

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Many of those things don't require overseas travel. So in an ideal world, this would be a great opportunity to try healthy eating. But yeah, all these mega corporationss ship resources overseas to be turned into commodities and then shipped BACK here (in my experience: Asian countries are not huge western breakfast goods consumers). I'd like to believe that the cereals by those companies that are still made in North America would have their prices hiked but again, this is about profit for rich people...not the needs of the workers and middle class.


Rising inflation is a worldwide problem currently affecting advanced and emerging market economies. The issue is not confined to the US. It seems to be a broad reaction to shifts in supply and demand related to Covid.
How is the cost of living rising around the world? | World Economic Forum (weforum.org)

IMF: Will inflation remain high? | World Economic Forum (weforum.org)

IMF: Will inflation remain high?
  • The economic recovery has caused an acceleration in inflation for advanced and emerging market economies this year.
  • It's expected that these pressures will soften over time.
  • A key question is what combination of conditions could cause a persistent spike in inflation, write two economists from the IMF.
The economic recovery has fueled a rapid acceleration in inflation this year for advanced and emerging market economies, driven by firming demand, supply shortages, and rapidly rising commodity prices.

We forecast in our latest World Economic Outlook that higher inflation will likely continue in coming months before returning to pre-pandemic levels by mid-2022, though risks of an acceleration do remain.
OB
 
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iluvatar5150

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Mean while over at General Mills:



So, a decline of 1-2% in profit translates to a 20% price increase?

Yeah, it’ll be interesting to see how their profit margins shake out after this and if they’re merely trying to cover their increased input costs or if they’re also trying to juice their margins and using inflation as a cover.
 
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rambot

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I'll up you one and say this is part of the build back better agenda of Corporatism which is a global entity. You may have noticed almost everything is taking an organized 20% jump or more lately. Indebtedness is key during a shift in power.
I'm all for class conflict!
 
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General Mills To Raise Prices On Yogurt, Cereal, Other Foods Due To Inflation



Remember when politicians were concerned for the poor and working class and did things that helped us like ensuring government decisions didn't raise the prices of basic goods? Those were the days.
We’ve been spoiled by the economy rolling along since 2007. Even with inflation we have record low unemployment. People are way whining about an inevitable increase in prices as demand surged as the shut down ended.
 
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Remember when politicians were concerned for the poor and working class and did things that helped us like ensuring government decisions didn't raise the prices of basic goods?

No, I don't remember that at all. I thought Americans believe in the free markets and supply and demand.

Those were the days.

Exactly when were those days?
 
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NxNW

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Remember when politicians were concerned for the poor and working class and did things that helped us like ensuring government decisions didn't raise the prices of basic goods? Those were the days.

Wait, in this thread "Build Back Better" will destroy much faster you're complaining about government limiting pricing.

From David Rouzer (NC Congressman)

Innovation-Killing Price Controls: The bill would institute government price-setting of prescription drugs which will lead to significantly less private investment in new cures. This would also limit seniors’ access to medicines and drastically harm pharmaceutical innovation, resulting in fewer new drugs and fewer generic drugs being developed.


Which is it? Are price controls bad, or are they good?
 
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General Mills To Raise Prices On Yogurt, Cereal, Other Foods Due To Inflation



Remember when politicians were concerned for the poor and working class and did things that helped us like ensuring government decisions didn't raise the prices of basic goods? Those were the days.
I literally do not remember that. When did America sacrifice corporate greed for the betterment of its citizens? I'm not even being facetious.

Also, appropriate tax rates ALSO helps with that. Of course, having the current wealth distribution htat exists in America (Canada too) exacerbates this problem 10fold.

557ef766ecad04fe50a257cd



The middle class is poor.
 
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We’ve been spoiled by the economy rolling along since 2007. Even with inflation we have record low unemployment. People are way whining about an inevitable increase in prices as demand surged as the shut down ended.

“Record low unemployment “ is expected to accelerate inflation.

Wait, in this thread "Build Back Better" will destroy much faster you're complaining about government limiting pricing.

From David Rouzer (NC Congressman)

Innovation-Killing Price Controls: The bill would institute government price-setting of prescription drugs which will lead to significantly less private investment in new cures. This would also limit seniors’ access to medicines and drastically harm pharmaceutical innovation, resulting in fewer new drugs and fewer generic drugs being developed.


Which is it? Are price controls bad, or are they good?

You’ve got it all wrong. It’s Biden/Dems who are bad. Everything else flows from there.
 
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