WASHINGTON — The Consumer Price Index for baked foods and cereal products increased 1% in August, continuing its upward march but easing off after two straight months of 2% growth, according to the Bureau of Labor Statistics of the US Department of Labor. The index for all food at home, meanwhile, rose 0.7% after increasing 1.4% in July.
Of the 18 items followed by Milling & Baking News, 15 posted month-over-month increases and 3 posted decreases in August.
The August index for Cereals and Bakery Products before seasonal adjustment was 336.4% of the 1982-84 average, up 16.4% from a year ago. For all food at home, the August index was 295, up 13.5% from August 2021.
The sharp year-over-year gains were a reflection of the broader CPI, which was up 8.3% from a year ago.
The overall food index also was much stronger than a year ago, posting an 11.4% year-over-year increase. The 11.4% increase was the food index’s sharpest year-over-year gain since a similar 11.4% increase in May 1979.
The CPI for cereals and cereal products in August was 277.2, up 0.5% from July and up 17.4% from August 2021. The index for products within this category included: flour and prepared mixes, 306.9, up 1.9% from July and up 23.3% from the previous year; breakfast cereal, 267.6, down narrowly from the previous month but up 16.4% from a year ago; and rice, pasta and corn meal, 283.9, up 0.5% from July and up 15.7% from August 2021.
The price index for bakery products in August was 370.5, up 1.3% from July and up 16% from August 2021.
The August index for bread was 224.3, up 2.2% from July and up 16.2% from August 2021. Under this heading, the CPI for white bread was 403.7, up 2.6% from July and up 16.4% from August 2021. For bread other than white, the index was 439.8, up 1.7% from July and up 16.1% from a year ago.
The price index for fresh biscuits, rolls and muffins in August was 218.2, up 1.4% from July and up 17.1% from August 2021. The August index for cakes, cupcakes and cookies was 348.2, up 0.4% from July and up 14.4% from August 2021. Under this segment, other price indexes included fresh cakes and cupcakes, 367.4, down 0.1% from July but up 12.9% from August 2021; and cookies, 323.6, down 0.1% from the previous month but up 14.3% from the previous year.
The CPI for other bakery products in August was 332.2, up 1.2% from July and up 16.5% from August 2021. Under this heading, other price indexes in August included: fresh sweet rolls, coffee cakes and donuts, 376.5, up 2% from July and up 14.1% from August 2021; crackers and cracker products, 393, up 0.3% from July and up 17.7% from August 2021; and frozen and refrigerated bakery products, pies, tarts and turnovers, 324.9, up 1.4% from July and up 18.1% from the previous year.