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In a presentation made at the Goldman Sachs' Global Consumer Products Conference in New York, General Mills CEO Stephen Sanger predicted that higher commodity costs are likely to create higher prices on some consumer packaged goods.

"The food industry is facing significant inflation in its input costs and all of us will have the challenge of doing things to maintain our margins,” Sanger said, according to a report from Reuters. "That is likely going to be addressed through a combination of pricing and productivity.”

However, Sanger did not address any specific price increases that may be coming on General Mills products.
KC's View:
Out of control gas prices aren’t likely to help, either. It’s gonna be an expensive summer…