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It was 9 cents per loaf. I just researched a lot of things from 1938 b/c I'm going to share this info at my mom's 70th b-day party.
In 1938, a loaf of bread would have cost you 8.6 cents:

Prices are for white bread, pan style, excluding all specialty type bread. For 1913-1936, prices were obtained from bakeries for 16 or 18 ounces in the dough and converted to 16 ounces baked weight. Both wrapped and unwrapped breads were included.

Beginning in 1937, prices have been obtained primarily from grocer stores for the volume-selling size loaf of wrapped bread. The baked weight as given on the wrapper or reported by the store was converted to 16 ounces. source: U.S. CENSUS

The minimum wage in 1938 was 25 cents.

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