Wholesale prices of wheat were stable in October ahead of the 2022 harvest, expected at a below-average level due to reduced sowings. Prices remained at levels 60 percent higher year-on-year, after sustained increases between February 2021 and August 2022. The high prices reflect elevated production and transportation costs as well as higher prices in international markets, from where the country sources about half of its domestic consumption requirement. Reduced market supplies from the lower year-on-year imports during the first nine months of 2022 also kept prices at high levels. Although retail prices of bread in the capital, Santiago, weakened for the third consecutive month in October, they were 20 percent above their year-earlier levels, supported by high prices of the raw material.