General Mills watching for rise in ingredient prices

Another sign the economy may slowly be heating up: General Mills‘s chief executive is talking about inflation.

General Mills CEO Kendall Powell tells the Financial Times the company expects a return to 4 or 5 percent inflation as the economy recovers.

The recession has been good to General Mills because its brands were reasonably priced, he said, and the company doesn’t plan to raise prices significantly this fiscal year.

The company is, however, keeping an eye on demand for such raw materials as oil, grains and sugar, he explained in the interview.

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