San Francisco, CA – Sara Lee is raising list prices for its breads, deli meats, and coffees as costs for wheat and other agricultural commodities have surged.
In a Thursday conference call, the maker of Jimmy Dean breakfast sandwiches and Hillshire Farm deli meats said it's lifted prices "across a number of its meat categories."
Sara Lee said it has already finished hiking its coffee prices in the U.S. and Europe. For bread, the company said industry prices have been going up and will move higher. Wheat is the culprit: Prices have surged 69% since hitting a three-year low June 9.
"We fully expect to face higher protein and other input cost over the course of the year, said CJ Fraleigh, who runs Sara Lee's food business in North America. "We'll work with our retail partners to take appropriate, necessary pricing actions to help manage through this situation."
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