Alcoholic fermentation is the process by which yeast converts sugars into alcohol and carbon dioxide. In bread making, the yeast ferments the sugars in the dough, producing carbon dioxide, which causes the dough to rise, and a small amount of alcohol.
However, during the baking process, the heat of the oven causes most of the alcohol produced during fermentation to evaporate. The temperature at which alcohol evaporates is lower than the temperature needed to bake bread, so nearly all of it is lost as steam. As a result, the final product contains very little to no alcohol, which is why eating bread does not cause intoxication.
In addition, any residual alcohol that might remain in the bread is typically at levels far too low to have any intoxicating effects. Therefore, while alcohol is indeed produced in the fermentation process, it is mostly removed during baking, making bread safe to consume without the risk of intoxication.