Wheat-based food prices on the rise

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,” the repor...