WASHINGTON — The Consumer Price Index for baked foods and cereal products increased 2% in June, according to the Bureau of Labor Statistics of the US Department of Labor. The month-over-month increase marks only the second time the CPI for baked foods and cereal products has exceeded 2%, with the other occasion taking place in April 2020 at the onset of the coronavirus pandemic. The index for all food at home, meanwhile, rose 1%.
Of the 18 items followed by Milling & Baking News, all 18 posted month-over-month increases in June.
The June index for Cereals and Bakery Products before seasonal adjustment was 326.4% of the 1982-84 average, up 13.8% from a year ago. For all food at home, the June index was 288.9, up 12.2% from June 2021.
The sharp year-over-year gains were a reflection of the broader CPI, which was up 9.1% from a year ago.
The overall food index also was much stronger than a year ago, posting a 10.4% year-over-year increase. The 10.4% increase was the food index’s sharpest year-over-year gain since a 10.5% increase in February 1981.
The CPI for cereals and cereal products in June was 270.4, up 2.5% from May and up 15.1% from June 2021. The index for products within this category included: flour and prepared mixes, 289.4, up 5.5% from May and up 19.2% from the previous year; breakfast cereal, 262.5, up 2.5% from the previous month and up 14.2% from a year ago; and rice, pasta and corn meal, 279, up 1.3% from May and up 14.2% from June 2021.
The price index for bakery products in June was 358.6, up 1.8% from May and up 13.2% from June 2021.
The June index for bread was 213.6, up 1.6% from May and up 10.8% from June 2021. Under this heading, the CPI for white bread was 385.9, up 1.8% from May and up 10.1% from June 2021. For bread other than white, the index was 417.9, up 1.3% from May and up 11.6% from a year ago.
The price index for fresh biscuits, rolls and muffins in June was 212.6, up 3.4% from May and up 13.2% from June 2021. The June index for cakes, cupcakes and cookies was 341.2, up 1.8% from May and up 13.4% from June 2021. Under this segment, other price indexes included fresh cakes and cupcakes, 363.4, up 2.9% from May and up 11.6% from June 2021; and cookies, 318.4, up 1.3% from the previous month and up 14.7% from the previous year.
The CPI for other bakery products in June was 321.9, up 1.2% from May and up 15.3% from June 2021. Under this heading, other price indexes in June included: fresh sweet rolls, coffee cakes and donuts, 367.3, up 1.7% from May and up 14.6% from June 2021; crackers and cracker products, 377.6, up 0.5% from May and up 16.6% from June 2021; and frozen and refrigerated bakery products, pies, tarts and turnovers, 317.9, up 2.9% from May and up 17.2% from the previous year.
