Mix flour, sugar, baking soda, cinnamon and salt in large bowl. Beat egg in small bowl; stir in milk and oil. Add to flour mixture; stir just until moistened. (Batter will be lumpy.) Stir in cereal and raisins. Spoon batter into muffin pan which has been sprayed with cooking spray, filling each cup 2/3 full.
Bake at 400°F for 20 to 25 minutes or until lightly browned. Serve warm.