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Drought Will Push Up Prices Of Baked Goods In 2018

July 26, 2017: 12:00 AM EST
The USDA reports that grocery and restaurant costs for baked goods and cereals could jump four percent next year on average, thanks to a drought-induced reduction in wheat production. Farmers will be getting higher prices for their wheat, and imports will decline, driving up prices for baked goods. Some will feel the pinch more than others, depending on the type of wheat used. An agri-economist notes that “not all wheat is created equal,” so the prices of products like pizza dough and bagels will rise more than wheat flour. [ Image credit: © Dunkin' Donuts  ]
Alan Bjerga, "Higher Costs Make 2018 a Great Time to Cut Carbs", Bloomberg Markets, July 26, 2017, © Bloomberg Finance L.P.
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