United States - The Consumer Price Index (CPI) for baked foods and cereal recorded a significant drop of 1.3% in November, marking the most considerable decline since the 1930s.

This decline in the baked foods and cereal index is notable, as monthly movements typically hover around a +/- 1% range. This news comes from the latest data released by the US Bureau of Labor Statistics (BLS).

The drop in the CPI for these staples was driven by notable decreases in specific categories, with flour and prepared flour mixes seeing a decrease of 3.1%—the largest drop since November 2019.

Bread prices also fell sharply by 1.3%, the most significant dip since May 2020. These figures stand out in the historical context, as such declines have only been paralleled twice in the last fifty years.

Economic experts like Andy Harig, Vice President of Tax, Trade, Sustainability, and Policy Development at FMI — The Food Industry Association, commented on the complexity of inflation trends, noting that while food-at-home prices show an overall annual increase, the monthly figures, like those seen in November, indicate significant fluctuations that merit close monitoring.

This decrease is part of broader economic trends where certain food items such as eggs and beef saw price increases due to factors like avian influenza and high input costs, respectively.

However, the drop in baked goods prices provides a silver lining for consumers aiming to manage their grocery budgets effectively, especially as the December holidays approach.

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Photo by: bls.gov/cpi