Kellogg announces hike in prices on cereal, toast pastries

NEW YORK Due to the rising cost of staples such as cooking oil and corn, Kellogg Co. has announced plans to raise the price of most of its branded cereals and Pop-Tarts toaster pastries next week, reports said Monday.

The price of Kellogg’s All Brand and Special K cereals will most likely increase, the company said. This will affect products on shelves across the United States. The increase is scheduled to take effect Jan. 18, the food maker said.

According to reports, the cost of commodity food supplies has come down from 2008’s record highs, but remains above expected averages.