Breadcoin Foundation, Ltd. announces that the value of its food token will increase to $2.50 on January 1, 2022. This is the first increase in the value of the token in five years. Accepted at more than 60 participating locations in DC and Baltimore, the Breadcoin food token provides food to those in need with the dignity of choice. The initial value of $2.20, in 2016, has stayed constant as food costs remained relatively steady between 2016 and 2019. Since the beginning of 2020, food costs have increased more than 9 percent. The change in the value of the token reflects the change in the cost of food.
“Low-income and fixed income families in DC and Baltimore are experiencing higher food costs. The change in the value of the token ensures families can eat, and participating businesses can cover their higher costs,” says Breadcoin President and Ph.D. Economist Scott Borger. “Breadcoin provides a way for underserved communities to adjust to higher food costs.”
Breadcoin provides an inflation-adjusted token to address these higher food costs. It uses a variety of different measures to adjust the value of the token including the U.S. Bureau of Labor Statistics’ Consumer Price Index for Food in U.S. Cities. The index below was adjusted to have a value of 220 in 2016 to demonstrate the need to change the token value to $2.50.