Will The Price For A Loaf Of Bread Hit $10?

Bread prices have soared this year, pushing more premium options to an unheard-of $10 a loaf and beyond https://t.co/ZLgEknNmfG

— Bloomberg (@business) July 19, 2022

Bloomberg: Bread for $10 Is the New $5 Gas as Demand Wanes for Basics 

(Bloomberg) -- People really begin noticing inflation when it shows up in things that they regularly buy. That’s why gasoline and milk get so much attention. Add bread to a growing list of basics that are rising in price and crushing consumer sentiment. 

Amid the highest US inflation in four decades, bread prices have soared this year, pushing more premium options to an unheard-of $10 a loaf and beyond. 

“It’s kind of like a punch in the nose,” said Mark Cohen, director of retail studies at Columbia University. These are prices “nobody has seen before” and have the same impact as gasoline hitting $5 a gallon, he said.  

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Update: Bread causing $10-per-loaf sticker shock as inflation surges (NYPost)  

WNU Editor: I enjoy rye bread. In the past two months the price has gone from $3.50 a loaf Canadian to $5.00. Regular White Bread is now $4.00 (from $2.50).

As shocking as these prices are, it is an even bigger shock in countries like Egypt and elsewhere where bread is a major staple of the country's diet.

I think the bigger shock will be happening in the middle of September. That is when the U.S. government's agriculture department releases its data on this year's harvest. If it is going to be bad as predicted, expect even greater price shock-waves in the coming months.