A leading cereal manufacturer executive recently suggested swapping usual dinner meals for cereal due to the rise in food prices. Critics argue this move to be a sales-boosting strategy, belying a greater need for affordable and nutritious food options.
Supporters argue cereal can provide a cost-effective and convenient solution to those working long hours, or on a tight budget.
The suggestion was made during a CNBC interview. The executive proposed that a cereal dinner, garnished with milk and choice fruit, costs under $1. An economical choice aimed to alleviate financial stress of households amidst the current crisis.
The executive commended the simple versatility of cereal, inclusive of nutritious essential ingredients and fast preparation time. He quoted the benefits to those engaging in remote work, childcare, and domestic duties.
Despite cereal’s proposed convenience, backlash has ensued due to soaring cereal prices. Source data from the Bureau of Labor Statistics reveals a 28% inflation in cereal prices since January 2020. Reportedly, the manufacturer increased its own prices by 12% during the last fiscal year, achieving total sales of $651 million in the last quarter alone.
Consumers have voiced concerns over the company’s prioritization of profit over affordability. Critics label the exploitation of financially struggling families as “greedflation”, a term representing the forced purchase of alternatives due to price inflation.
Noted nutritionist, Kavita Devgan, shared concerns over the nutritional value of cereal dinners. She pointed out high sugar content, lack of essential nutrients, and high volumes of artificial colors and flavorings as potential health risks. Devgan stresses the importance of informed food choices, advocating for a diet rich in whole grains, fruits, vegetables, and lean proteins.
The controversy has increased customer complaints on social media about the company’s disregard for affordability, reminiscent of the infamous quote “let them eat cake”. This has initiated a reexamination of the company’s pricing policies.
