Wheat-based food prices on the rise
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July 28, 2022
COLFAX — The USDA Wheat Outlook report released July 14 shows consumer prices for cereal products rose during January to June 2022 period about 11% from the same period in 2021 as measured through the Consumer Price Index, marking the largest year-over-year increase in a 6-month period since 1981.
Rises in consumer prices for cereal products follow a greater increase in wheat prices. The market price for wheat in Kansas City, Mo., which closely reflects the prices mills pay for wheat, were up 63%, the USDA reported.
“This heightened volatility follows a historically typical pattern,”...
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