Breadcoin Increases Token Value to $3.00 as Inflation Squeezes Food Access
Nonprofit Adjusts Program for First Time in Four Years Reflecting 20% Rise in Food Prices Since 2022
WASHINGTON, D.C. — As food prices continue to rise nationwide, Breadcoin, a nonprofit food token program that provides meals to those in need with dignity of choice, today announced an increase in the value of its token from $2.50 to $3.00, as of February 1st and effective immediately thereafter. The change marks the first increase in the token’s value in four years and reflects the growing impact of inflation on both families and individuals experiencing food insecurity and the local businesses that serve them.
Accepted at more than 160 participating locations across Washington, D.C., Maryland, Pennsylvania, Virginia, and Florida, the Breadcoin token allows recipients to purchase food at local restaurants and markets, giving them the autonomy to choose meals that meet their preferences and dietary needs.
The token value increase is intended to ensure that recipients can continue to purchase complete meals with 3 or 4 Breadcoin despite rising food prices, while also allowing participating restaurants and markets to cover higher ingredient, labor, and operating costs.
“Low-income and fixed income families are experiencing higher food costs every day,” said Scott Borger, Ph.D., Breadcoin CEO and an economist. “Adjusting the token value helps ensure families can still eat while local businesses are not forced to absorb rising costs. It’s a necessary response to economic pressure that is affecting the entire food system.”
Each year, Breadcoin distributes more than 150,000 tokens, serving thousands of individuals and families, including low-income and fixed-income households, seniors, and individuals experiencing housing instability.
Breadcoin launched in 2016 with a token value of $2.20 which was adjusted to $2.50 in January 2022 amid rising food costs during the pandemic. Food prices have since risen by more than 20 percent, prompting the current increase to $3.00.
Breadcoin provides an inflation-adjusted token specifically designed to address rising food costs. The organization uses a variety of measures to determine token value adjustments, including the U.S. Bureau of Labor Statistics’ Consumer Price Index for Food in U.S. Cities.
Breadcoin is funded through private donations and philanthropic support, which allows the organization to respond to economic shifts while continuing to serve communities.
