Check out those higher prices at the grocery store helping General Mills and ConAgra to post quarterly results above Wall Street expectations.
Both food makers reported lower profits on a net basis.
But excluding various items, their earnings were stronger than analysts were expecting.
General Mills, the maker of Progresso soup and Cheerios cereal, has benefited along with other food companies as consumers buy more soup, cake mixes and yogurt to save money by eating at home more often.
It raised its full-year forecast.
ConAgra was helped by strong results at its commercial foods business, which sells specialty potatoes, seasonings and other items.
But while General Mills was able to raise prices and sell more retail food in the United States, ConAgra saw sales volume fall in its consumer good business, hurt by weakness at its Banquet frozen dinner and Wesson cooking oil brands.
The maker of Chef Boyardee canned pasta and Orville Redenbacher popcorn stood by its full-year forecast for earnings slightly above $1.50 a share, excluding one-time items.
ConAgra said it expects improvement in the consumer foods business, especially in the fiscal fourth quarter.
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(Photos: Screenshots from the websites of ConAgra, General Mills)
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