Report: Price of breakfast cereal going up

October 21, 2010 12:43:23 PM PDT
Rising food prices are coming to your breakfast table.

The Wall Street Journal reports General Mills will raise prices on about a quarter of its cereals as well as flour and baking mixes. It's expected to be a "low, single digit" price increase beginning next month.

The hike is blamed on rising costs for grain and other commodities.

The report says Kraft will also raise its cereal prices.