It's not just cereal, and prices will be hiked by around 20% starting mid-January.
https://www.breitbart.com/politics/2021/11/23/report-general-mills-will-raise-prices-up-to-20-percent-in-january/
General Mills is the latest company to announce its prices will rise next year, indicating that the issue of rising prices across the country is not going away soon. Procter & Gamble, Tysons, and Kraft Heinz have also announced price hikes, which will affect middle-class families. Earlier in November, the Department of Labor released data that showed nearly every price for breakfast items such as whole milk, eggs, bacon, juice, and coffee also rose sharply compared to last year.
Might want to stock up now....
Some of the company’s rising prices will include brands such as Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charms, Wheaties, Reese’s Puffs, and Trix, according to the report.
The letter from General Mills indicated that the rising cost of goods was in response to the higher cost of materials and labor.