WASHINGTON, DC, US — The Consumer Price Index for baked foods and cereal products rose 1.7% in January, according to the Bureau of Labor Statistics of the US Department of Labor. The index for all food at home, meanwhile, increased 1.2%. Both increases represented the sharpest month-over-month gains since April 2020.

Of the 18 items followed by Milling & Baking News, a sister publication of World Grain, 17 posted month-over-month increases and only breakfast cereal finished lower.

The January index for Cereals and Bakery Products before seasonal adjustment was 302.2% of the 1982-84 average, up 6.8% from a year ago and the biggest year-over-year gain since March 2009. For all food at home, the January index was 270.7, up 7.4% from January 2021 and the sharpest year-over-year gain since October 2008.

The sharp year-over-year gains were a reflection of the broader CPI, which was up 7.5% from a year ago. The 7.5% increase is the biggest increase in the overall CPI since February 1982. In fact, the year-over-year change in the overall CPI rarely exceeds 3%, having done so only 10 times in the past decade, with all 10 of those times taking place in the past 10 months.

The overall food index also was much stronger than a year ago, posting a 7% year-over-year increase. The 7% increase was the food index’s sharpest year-over-year gain since August 1981.

The CPI for cereals and cereal products in January was 246.5, up 1.1% from December and up 6% from January 2021. The index for products within this category included: flour and prepared mixes, 264.5, up 6.5% from December and up 10.3% from the previous year; breakfast cereal, 238.2, down 1.4% from the previous month but up 5.2% from a year ago; and rice, pasta and corn meal, 255.5, up 1.6% from December and up 5% from January 2021.

The price index for bakery products in January was 334.6, up 2% from December and up 7.2% from January 2021.

The January index for bread was 202.8, up 1.1% from December and up 5.9% from January 2021. Under this heading, the CPI for white bread was 365.3, up 1.1% from December and up 5.6% from January 2021. For bread other than white, the index was 398.1, up 1.2% from December and up 6.3% from a year ago.

The price index for fresh biscuits, rolls and muffins in January was 197.9, up 1.8% from December and up 6.1% from January 2020. The January index for cakes, cupcakes and cookies was 315.2, up 2.4% from December and up 6.1% from January 2021. Under this segment, other price indexes included fresh cakes and cupcakes, 336.7, up 2.4% from December and up 6.4% from January 2021; and cookies, 294.3, up 2.9% from the previous month and up 6.1% from the previous year.

The CPI for other bakery products in January was 298.3, up 2.4% from December and up 9.9% from January 2021. Under this heading, other price indexes in January included: fresh sweet rolls, coffee cakes and donuts, 346.6, up 2.8% from December and up 7.2% from January 2021; crackers and cracker products, 350.4, up 2.8% from December and up 12.6% from January 2021; and frozen and refrigerated bakery products, pies, tarts and turnovers, 287.7, up 1.6% from December and up 8.4% from the previous year.