Anybody who enjoys eating early in the day should shed a tear for the maligned meal of breakfast.
First, we’re told about the “death of cereal” trend that’s being driven by more of us eating snacks on the go from coffee shops instead of sitting down at home with a bowl and a spoon.
And now the latest blow: Some of our favorite breakfast foods — like Cheerios and Jimmy Dean sausage — are about to get more expensive.
General Mills and Tyson pushing through price increases
Reuters reports that several food manufacturers are preparing a new wave of consumer price increases to deal with the increased shipping costs they’re facing.
Among the companies named in the article are Cream of Wheat-maker B&G Foods Inc; Cheerios-maker General Mills; and Tyson Foods Inc, which owns both the Hillshire Farms and Jimmy Dean brands, in addition to its legacy chicken business.
Tyson’s CEO says the planned price increases “should be in place for the second half” of its fiscal year, while declining to go into the specifics of the jacked-up pricing.
General Mills has told its convenience store and food service customers that price increases are coming, too. But the maker of Yoplait yogurt, among other brands, is also playing coy about the specifics.
Meanwhile, Reuters reports that Hormel Foods is in discussions with retailers about possible price hikes on its products, which include Skippy peanut butter and canned meat product SPAM.
The coming wave of price increases will put an end to a period of food deflation that dates back to 2016.
They’ll also come at a time when we’re seeing a notable increase in other consumer prices. The latest numbers from the Department of Labor show that clothing costs were up 1.7% in January for their biggest monthly gain since 1990. And auto insurance prices rose 1.3%, which is the most since 2001.
How to save money on your favorite breakfast foods
Just because the food industry is facing tighter margins as they pay more for shipping, it doesn’t mean you have to feel the pinch in your wallet!
Here’s how to save money the next time you’re in the checkout line…
Pick the store brand over the name brand
Being loyal to big brands will cost you money. Store brands offer comparable quality at a lower price. Many retailers will refund your money if you try a store brand and don’t like it. But if you do like a store product, you save money every time you buy it!
Buy three copies of the Sunday newspaper for the coupons
If you want to remain loyal to name brands, you might as well save money on them. Buy the Sunday paper for the glossy RedPlum and SmartSource coupon circulars or visit RedPlum.com and SmartSource.com to print coupons for free. If you live in a metro area, you may be able to find free Spanish language newspapers in your town that have these inserts. (Be sure to leave copies for others too!)
Check the clearance rack
Talk to your store’s manager and find out where they keep the clearance items. Many stores will have a dedicated rack or shelf. It’s also helpful to know when new stock is added to the clearance rack or aisle. If you’re first to find it, you can score some real deals!
Shop at the discount grocery chains
Shop the salvage stores
Salvage stores are a unique category of retail that sells canned food and other goods that’s past expiration date. That might sound gross, but many foods have longer lifespans than you’d think and they sell at a steep discount after the official expiration date printed on the package. Find the salvage store nearest you in this directory.
Use a cash-back credit card
The American Express Blue Cash Preferred Card offers 6% cashback on groceries, up to a max of $6,000 annually.
But there are two caveats here: First, the card has a $95 annual fee you should know about. Second, you must be sure you pay your bill in full each and every month — or else you’ll rack up more interest charges than you’ll receive in cash back!