Our Daily Bread
As I was saying seven years ago - this is bollocks: ...the price of wheat is still lower than it was twenty years ago. So I started to look on the web for what is going on. I came across this snippet from Italy: "The price of bread depends almost entirely on items other than the cost of wheat, and it is totally unjustified to say that there could be price rises due to the drought. About 1 kg of wheat (800 gr. of flour) is needed to make 1 kg of bread. Wheat costs 16-18 cents per kilo, whereas bread costs 1.50 euro per kilo, with wheat representing only 12 pct of the finished product price. Hence, an improbable 20 pct increase in the price of wheat would lead to a 2.4 pct price rise of bread.
Similar situation for many other products such as pasta, fruit juices, wine, milk, cheeses, meat, fruit and vegetables: the price paid by customers is from 2 to 10 times greater than the one paid by producers for the raw material, and is often due to industrial processing, packaging and transport. "
In a local churchyard Wiltshire folk record the price of bread:
1800 bread was 3s 4d per gallon; 1801 bread was 3s 10d per gallon; 1904 bread was 10d per gallon; 1920 bread was 2s 8d per gallon after the Great War; 1946-48 bread was rationed – subsidised price 2s 1d per gallon; 1963 bread was 5s 4d per gallon; 1971 bread was 8s per gallon – decimal currency; 1984 bread was £1.80 per gallon.
2000 bread was £3.72 per gallon.
A gallon measured the dry ingredients to make eight standard loaves so I make the 2010 price £10:40 (according to The Telegraph's pricing).
My 1982 copy of Nix has milling wheat at £121.50/Tonne - The record high recorded yesterday was £148/t.