Grocery store prices aren't coming down soon [CNN]
General Mills, Inc. (GIS)
Last general mills, inc. earnings: 3/18 07:00 am
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Source: CNN
New YorkCNN Some sobering news for shoppersgrocery store billsGrocery pricesclimbed 13.5% in AugustExecutives at large food manufacturers and analysts expect inflation to hover around this level for the rest of 2022.Next year, the rate of food inflation is expected to moderate — but that doesn’t mean prices are going to drop. Once prices hit a certain level, they tend to stay there or go up, but rarely down.A number of factors have contributed to the surge in prices. Producers say they’re paying higher prices for labor and packaging materials.Extreme weatherdeadly avian fluRicardo Arduengo/AFP/Getty ImagesHurricane Ian could push food prices even higherEven if some of these situations stabilize, it will take a while for those changes to reach consumers.“There’s a lot of uncertainty,” said David Ortega, food economist and associate professor at Michigan State University. It’s not clear when thewar in UkraineProducers aren’t “seeing any end to inflation in terms of their labor and commo
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GIS
Earnings
- 3/20/24 - Beat
GIS
Sec Filings
- 5/3/24 - Form CERT
- 4/30/24 - Form 8-A12B
- 4/23/24 - Form 8-K
- GIS's page on the SEC website