NEW YORK (AdAge.com) -- Kellogg Co. will not be alone this year with higher prices for its cereals.
General Mills on Tuesday announced it would raise its prices for cold cereal by 2% as a result of rising wheat, cocoa and energy costs.
The move follows Kraft Foods' quiet
announcement to retailers of its own hike, an increase of an average of 3% on its Post cereal brands, likewise to cover increased energy and commodity costs and to focus on new product and marketing innovation (including its Strawberry Blasted Honeycomb and a new variety of Post Selects, Maple Pecan Crunch, that will ship in March).
Kellogg was the first out of the gate earlier this month when it announced a price hike of 2% to 2.5% on its cereal lines.