Christopher "CJ" Fraleigh, chief executive of Sara Lee's North American retail and food service business, said the company was preparing its fourth price hike of the current fiscal year which started last July 5. Meat prices will end the fiscal year up 9 to 10 percent, he said.
"We've been raising prices pretty steadily ... I would be hard-pressed to think of any product in our portfolio that hasn't seen a price increase," Fraleigh said.
The company has taken the biggest price increases on its Sara Lee frozen desserts, which include pies, due to higher dairy and wheat costs.
Source: Reuters, forexyard.com