Interim Report on Breakfast Cereals and Bakery Products

by Council on Wage and Price Stability on January 1, 1976
by Council on Wage and Price Stability

In April 1975, the Council on Wage and Price Stability initiated a study of the breakfast cereals and bakery products industries in order to determine if competitive forces were operating with sufficient vigor to translate the reductions in basic commodities prices — wheat, corn, and sugar in particular — into prices for bread, cookies, crackers, cakes, rolls, and breakfast cereals. Given that the prices of these food products had risen with the sharp increases in commodities prices and other costs in 1973-74, the Council endeavored to ascertain whether cereal and bakery product prices also responded to the substantial reductions in commodities prices in 1975. This report summarizes the preliminary findings which have emerged from this study …

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