To calculate the price of a homemade loaf of bread, you need to consider three things: the purchase price of your bread maker, the cost of the ingredients and the cost of energy. Assuming a 100 euro bread maker that lasts 500 loaves, you come up with 20 cents per loaf as depreciation on your bread maker. For ingredients, you spend about 50 cents for a "normal" loaf and suppose you use 20 cents worth of energy. Then you come to a cost price of 90 cents per loaf. That's easily a euro cheaper than a loaf at the bakery (usually even more). So you can say that baking your own bread is definitely cheaper than buying a loaf at the bakery.