Wheat 'super spike' warning as Russian invasion could spark HIKE in cost loaf of bread

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Thomas Pugh, economist at consultancy RSM, told The Telegraph: “Wheat makes up about 10 percent of the cost of a loaf of bread so a 75 percent increase would add about 7.5 percent to its price.

“This might understate it though, the last time we had a similar surge in wheat prices back in 2008, inflation in the bread and cereals category peaked at 17.5 percent.

“Given all the other costs associated with bread making, such as packaging, labour and transport, will all also be going up, an eventual increase of between 10 percent and 20 percent seems likely.”

Latest Office for National Statistics figures put the average loaf of sliced white bread at £1.08p meaning a 7.5 percent increase would add 8.1p to the cost.



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