WASHINGTON — The Consumer Price Index for baked foods and cereal products soared in 2022, increasing 13% after an advance of 2.3% in 2021, 2.2% in 2020, 1.4% in 2019 and 0.4% in 2018. The gains followed declines of 0.5% in 2017 and 0.3% in 2016. The only other year in the past 40 years that the index increased more than 10% was in 2008, and the 2002 jump was the sharpest since a gain of 29.9% in 1974, according to the Bureau of Labor Statistics of the US Department of Labor.
Overall, all 18 of the categories followed by Milling & Baking News finished sharply higher for the year.
The price index for Bakery Products advanced 12.7% in 2022. The category posted increases of 2.5% in 2021, 2.4% in 2020, 1.8% in 2019, 0.8% in 2018 and 0.1% in 2016. The index was unchanged in 2017. Two segments within this category — bread and fresh biscuits, rolls and muffins — were introduced in 1998 with a base of December 1997. All other products are based on a 1982-84 average.
In the bread segment, the index increased 11.6% in 2022. The index increased 2% in 2021, 3.6% in 2020, 2.7% in 2019 and 0.6% in 2018 but was down 0.1% in both 2017 and 2016. Within the segment, white bread increased 11.4%. The index was 1.1% higher in 2021, 4.3% higher in 2020, 3% higher in 2019 and 0.1% higher in both 2018 and 2017. Bread other than white also finished stronger, increasing 11.9% after rising 2.9% in 2021, 3% in 2020, 2.9% in 2019 and 1.1% in 2018. The index was down 0.2% in 2017.
The index for cakes, cupcakes and cookies continued its upward climb, rising 12.4% in 2022 after climbing 2.6% in 2021 and 1.3% in both 2020 and 2019. The index was up 1.7% in 2018, 0.4% in 2017 and 1% in 2016.
The CPI for other bakery products increased 14.2%, its fourth consecutive year-over-year increase, which followed three straight years of declines between 2016-18. In the other bakery products segment, fresh sweet rolls, coffee cakes and donuts were up 11.8%; crackers and other cracker products increased 16.1%; and frozen and refrigerated bakery products, pies, tarts and turnovers rose 15.3%.
The CPI for Cereals and Cereal Products increased 13.8% in 2022, its fourth straight year of year-over-year gains after three consecutive year-over-year declines. Flour and prepared mixes advanced 18.9%, which comes on the heels of a 2.3% increase in 2021. Breakfast cereal increased 12.5% in 2022, which followed an increase of 2.5% in 2021, 1.3% in 2020 and 0.5% in 2019 but declines of 1.8% in 2018, 1.1% in 2017 and 1.1% in 2016. Rice, pasta and corn meal increased 12.8%, which followed increases of 0.6% in 2021, 2.5% in 2020 and 0.8% in both 2019 and 2018.
The CPI for fresh cakes and cupcakes increased 11.3% in 2022, which followed a gain of 3% in 2021. The index fell 0.9% in 2020, but increased 2.4% in 2019, 2.2% in 2018, 1.4% in 2017 and 2.3% in 2016.
The index for cookies rose 12.7% in 2022, which followed gains of 1.4% in 2021, 2.1% in 2020, 0.9% in 2019 and 0.8% in 2018.
On a monthly basis, the CPI for baked foods and cereal products was stronger, rising 0.2% in December. Changes in the categories tracked by Milling & Baking News, though, were more mixed than in recent months.
The December index for Cereals and Bakery Products before seasonal adjustment was 345% of the 1982-84 average. For all food at home, the December index was 299.1, up 0.3% from November.
The CPI for Cereals and Cereal Products in December was 282, up 0.3% from November. The index for products within this category included: flour and prepared mixes, 306.5, down 0.5% from November; breakfast cereal, 273, up 1.1% from the previous month; and rice, pasta and corn meal, 290.1, down 0.1% from November.
The price index for Bakery Products in December was 381.6, up 0.1% from November.
The December index for bread was 232.5, up 0.2% from November. Under this heading, the CPI for white bread was 425, up 1.3% from November. For bread other than white, the index was 448.7, down 0.7% from November.
The price index for fresh biscuits, rolls and muffins in December was 226.1, down 0.3% from November. The December index for cakes, cupcakes and cookies was 360.4, up 0.3% from November. Under this segment, other price indexes included fresh cakes and cupcakes, 377.7, down 0.4% from November; and cookies, 338.1, up 1% from the previous month.
The CPI for other bakery products in December was 337.8, up 0.1% from November. Under this heading, other price indexes in December included: fresh sweet rolls, coffee cakes and donuts, 382.7, up 2.6% from November; crackers and cracker products, 395.1, down 0.3% from November; and frozen and refrigerated bakery products, pies, tarts and turnovers, 335.1, down 1.1%.