[UncleJoe]

General Mills Signals Faster U.S. Food Inflation

General Mills Inc. showed where U.S. food prices are headed by making some of its breakfast cereals and baking products more expensive, according to Christopher Growe, a Stifel Nicolaus & Co. analyst.

As the CHART OF THE DAY shows, retail prices for food are lower than they were in May though the cost of farm commodities has soared. The food component of the U.S. consumer price index and a gauge of agricultural-product prices, compiled by UBS AG and Bloomberg, were used to make the comparison.

General Mills, the maker of Cheerios, Chex and Wheaties, will raise cereal prices on Nov. 15. The increase will affect about 25 percent of its cereal production and amount to a "low single-digit" percentage, Kirstie Foster, a company spokeswoman, wrote today in an e-mail.

Prices for some baking mixes are set for "a mid single- digit increase," effective Jan. 3, Foster wrote. The company's product lines include Betty Crocker, Bisquick and Pillsbury.

"While General Mills may be the first of the large food companies to really press higher on pricing, we believe many others may follow," Growe wrote. "It's just a matter of time, given what is coming down the pike in the way of inflation."

The UBS Bloomberg Constant Maturity Commodity Index for farm products jumped 50 percent between June 7, when it fell to this year's low, and yesterday, when it set a record by closing at 1,770.479. The previous high was set in July 2008.

General Mills Signals Faster U.S. Food Inflation: Chart of the Day - Bloomberg

 

[Elinor0987]

Thanks for the heads up!

 

[gypsysue]

Well, cold cereal and boxed cake mixes are pretty much out of our budget anyway, but it doesn't bode well for the prices of everything else. Seems like it's all gone up this year.

Time to get familiar with oatmeal again! At least it's something we can order in bulk 50-lb. bags, which brings the per-serving price pretty cheap. Plain oatmeal is boring though.

Favorite oatmeal recipe: Add some canned pumpkin, chopped walnuts, a little cinnamon, maybe a little nutmeg and cloves, and real maple syrup! Or berries or chopped apples instead of the pumpkin. A little flavored coffee creamer can be good too, even if you put milk on the oatmeal.

 

[mdprepper]

Name brand cold cereals are over $3 a box here. At Aldi's their brands are $1.79 per box. I have not bought brand name without a major sale and coupon in ages.

Oatmeal is great with a little apple butter mixed in. My picky eaters love it that way.

 

[UncleJoe]

Oatmeal is great with a little apple butter mixed in. My picky eaters love it that way.

I mix in strawberry preserves but I've never heard of that. Since I have some nice fresh homemade apple butter, I think I'll try it. Thanks.

 

[jungatheart]

I love oatmeal especially with a squirt of vanilla in it.

 

[kyfarmer]

A big ol bowl of hot oatmeal before a hunt in cold weather will do more to keep ya in the field, past lunch than a mickie D's samich, lol. It also will not drag ya down with a big sugar crash after that big ol or little ol debbies cake off the heart attack rack, that's what i call it. :2thumb:

 

[Lonewufcry]

I have not purchased name brand cereals for some time now. oatmeal with fruit is a lot cheaper and more healthy.

 

[sailaway]

The summer of 1970 I ate probably 10 boxes of Wheaties to get a NY Mets Baseball poster and haven't eaten any since then. I do have oatmeal and cream of wheat in my preps though, might get some more.

 

[gypsysue]

Oooh, I love Cream of Wheat! We add hot cocoa mix to it and make our own "Cocoa Wheats"!

There's a whole wheat version of it called "Bear Mush", and to this day my kids call all cream of wheat "Bear Mush"! Somehow the name made them enthusiastic about eating it! Now they're raising their own kids, calling it that!

 

[NaeKid]

I love Cream of Wheat as well.

When I make it, I will squirt some "Roger's Golden Syrup" into my porridge-bowl and then put my porridge over that. I'll cut a bit of butter off the block and place that in the center of my porridge. Once that is melted down, I'll stir it up and eat! :2thumb:

 

[TechAdmin]

I never buy anyhting but store brand anyhow. I can't believe the prices on some of them as it is.

 

[UncleJoe]

The summer of 1970 I ate probably 10 boxes of Wheaties to get a NY Mets Baseball poster and haven't eaten any since then. .

Another Mets fan!!! :2thumb: :beercheer:

No comments about Mets fans from the peanut gallery please.

 

[gypsysue]

Another Mets fan!!! :2thumb: :beercheer:

No comments about Mets fans from the peanut gallery please.

What are "Mets"?
:dunno:

 

[horseman09]

What are "Mets"?
:dunno:

Gypsy, "Mets" are a bunch of guys who wear tight pants, scratch themselves in public and one day want to learn how to play baseball. :lolsmash:

Just pickin' on ya, UncleJoe.

 

[ZoomZoom]

Gypsy, "Mets" are a bunch of guys who wear tight pants, scratch themselves in public and one day want to learn how to play baseball. :lolsmash:

Commonly found and pictured at the Fashion Section of www.thepeopleofwalmart.com

http://www.peopleofwalmart.com/?cat=5

 

[gypsysue]

Oh! I get it! "Mets" are Wal-mart shoppers! :lolsmash: :lolsmash:

 

[UncleJoe]

I just HAD to open my big mouth. :surrender:

 

[gypsysue]

I just HAD to open my big mouth. :surrender:

Don't feel bad! I was just kidding!

Who could forget them winning the world series in 1986?

Seems to me they won it back in the 60's too, when I was a kid.

 

[UncleJoe]

Yep, 69. I was in 6th grade and was all alone with my support for the Mets.