Cereal Prices Spike, Consumers Look to Store Brands to Save Money
While recent news has focused on increases in egg and meat prices, consumers are now feeling the pinch in another grocery aisle: breakfast cereal.
According to a report by consumer reporter John Materris, cereal prices have risen by 14.2% year over year, with many boxes now costing over $5.
In response, many shoppers are cutting back on their cereal purchases or turning to store-brand alternatives.
Tina Manton, who handles ordering for an IGA grocery store, notes that store-brand cereals are now flying off the shelves.
These brands, which are often half the price of name-brand cereals, are becoming increasingly popular among budget-conscious shoppers.
Despite the price hikes, some popular cereals like Cheerios and Rice Krispies have had smaller price increases year over year.
Consumers are also advised to check for paper and digital coupons before making a purchase, as well as to look for deals on larger quantities of cereal.
In short, with cereal prices on the rise, it’s important for consumers to shop smart and consider their options carefully to avoid wasting their money.