Kellogg’s to Increase Cereal Prices
BATTLE CREEK, Mich. (AP) _ Kellogg Co. is taking a bigger bite of cereal consumers’ grocery dollars.
The Battle Creek, Mich.-based company on Wednesday announced it is hiking the price of some of its cereals by an average of 2 percent. The increase takes effect immediately.
Higher commodity prices _ specifically for corn, wheat and cocoa _ are to blame, investor relations manager Wendy Lyon said.
The company makes brands such as Special K, Rice Krispies, Frosted Flakes and Keebler cookies.
Kellogg, based in Battle Creek, Mich., also raised cereal prices less than two years ago. The company hiked the price of its cookies and crackers last fall.
Kellogg plans to announce its fourth quarter earnings Thursday.