General Mills Anticipates Higher Prices

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Food packaging giant General Mills says it expects higher food and energy costs in the coming year. The maker of Cheerios, Yoplait and Pillsbury posted a slight increase in net income for the recent quarter and sales that were better than expected. But higher prices for basic ingredients like corn and wheat means reducing discounts to customers. It also shrunk the size of its cereal boxes and increased the average price of its cereal. The company's CEO says consumers did not notice.

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