Is money tight? Kellogg’s says eat cereal for dinner

“Let them eat Corn Flakes” appears to be Kellogg’s CEO Gary Pilnick’s advice to cash-strapped shoppers who are spending the highest portion of their income on food than at any point in the last 30 years. In an interview with CNBC last week, WK Kellogg CEO Pilnick said the company was advertising cereal for dinner to consumers looking for more affordable options. Prices for groceries and restaurants have skyrocketed since the start of the pandemic. In 2022, consumers spent 11.3% of their disposable income on food, the highest level since 1991, the Wall Street Journal reported last week, citing data from the US Agriculture Department. #CNN #News #Shorts