Bread prices rising in the United States

Jenn Leach

The cost of wheat has increased by as much as 40% as Russia's invasion into Ukraine has impacted trade from Black Sea ports, according to this source.

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The Russian Ukrainian conflict has caused supply disruptions.

The price of wheat, corn, and soybeans have risen as much as 80%.

Bread, pasta, and packaged food prices are on the rise.

This comes from inflation and supply disruptions from the Russian Ukrainian war.

Berna Karali, professor of agricultural and applied economics at the University of Georgia says:

The decrease in Ukraine's wheat exports affects the global availability of wheat, which puts an upward pressure on the global price of wheat. As financial markets do not like uncertainty over supply, they priced that risk premium in the futures markets already, making wheat futures contract prices increase over 40% in a week. This is a massive increase.

Robb MacKie, president and chief executive of the American Bakers Association said:

Unfortunately for the short and intermediate-term, food inflation and the cost of baked goods in the United States will go up more. This will impact the most vulnerable in our society the most...

Price hikes among bread, pasta, milk and other grocery staples coupled with supply chain disruptions could mean some changes to grocery shelves this year.

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Disclaimer: This article is only for educational and informational purposes.

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Millennial entrepreneur and writer bringing you fresh content and ideas about making money, side hustles, personal finance, budgeting, and lifestyle. Connect with me: www.millennialnextdoor.com

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