March 24/Minneapolis/The Toronto Star -- General Mills Inc. said it expects commodities inflation to accelerate, and in turn, the maker of Cheerios cereal and Progresso soups will continue to raise its own prices to keep pace.
General Mills, which reported a higher quarterly profit due in large part to a surge in international sales that offset a drop in U.S. cereal buying, was being squeezed by higher costs for ingredients such as grains, meat and dairy.