A Major Minnesota Company is Now Raising Prices Thanks to Hurricane Ida
Minnesota may be thousands of miles away from where Hurricane Ida came ashore a few weeks ago but it's now causing this Minnesota company to raise its prices.
You don't often think of Minnesota being affected by hurricanes or tropicals storms, outside of a few times when the storm system moves inland and causes some leftover showers, right? But this Fortune 500 company headquartered right here in the Land of 10,000 Lakes says it is being forced to raise prices on its products, all thanks, in part, to Hurricane Ida.
The corporate world headquarters for General Mills is in Golden Valley, Minnesota, located near the intersection of General Mills Boulevard and Betty Crocker Drive. It's right off Highway-169, about an hour and a half northwest of Rochester. It's known for many brands we use all the time, like Cheerios cereal, Haagen-Dazs ice cream, Yoplait yogurt, Gold Medal flour, Nature Valley Granola Bars, Blue Buffalo pet food, Pillsbury, and Betty Crocker to name a few.
And, now General Mills says that it'll likely increase prices on many of those familiar brands in the next year. That's the word from this MarketWatch story, which says supply chain issues caused by Hurricane Ida as well as lingering issues from the pandemic are to blame for the increase.
"Labor shortages at packaging and ingredients suppliers have increased costs and caused delays," MarketWatch said. And, that means those continuing issues are "...a structural issue that is likely to require more price increases for consumers in 2022," the story said.
So, get ready to pay more for some of those famous General Mills brands next year. And speaking of famous brands, how many of those Minnesota-based brands are THE most famous? Keep scrolling to see where they rank on the list of the 100 Most Popular Brands in America today.