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Farm Events:Date: 11/21/11-6/29/12 Date: 5/26/12-7/1/12 Date: 5/26/12 Date: 6/2/12 |
Farm News: Food Prices Up 4 Percent In SurveycommentsPosted: 09.16.2011 The American Farm Bureau Federation has just released their Market Basket Survey for the third quarter - and the trend of higher food prices continues. According to the 16 selected food items monitored by the AFBF - food prices went up approximately 4 percent. Meat and dairy accounted for about 40 percent of the overall increase. Boneless chicken breasts increased 24 cents to $3.33 per pound, bacon rose 23 cents to $4.41 per pound, sliced deli ham was up 17 cents to $5.43 per pound, shredded cheddar increased 14 cents to $4.70 per pound and whole milk was up 4 cents to $3.66 per gallon.
Suprisingly, there were some food items that went up despite the current growing season. Russet potatoes, up 36 cents to $3.43 for a 5-pound bag; Red Delicious apples, up 27 cents to $1.83 per pound; eggs, up 13 cents to $1.78 for one dozen; and pound of bagged salad, up 6 cents to $2.73. AFBF staff say weather related issues being faced by large produce growers is causing those price increases.
John Anderson, chief economist for AFBF said, “At the beginning of 2011, a number of factors including growing demand pointed to continued increases in retail food prices, especially for meats. But there’s always a lag time as farmers and ranchers increase the size of their herds to meet higher demand,” Anderson explained. “Extreme weather conditions around the nation have further compounded the issue, diminishing production and further increasing costs.”
Most items showing an increase in retail price from quarter-to-quarter also showed year-to-year increases. Compared to one year ago, Russet potatoes increased 30 percent; flour was up 27 percent; eggs and vegetable oil were each 26 percent higher. Year-to-year increases were also tallied for bacon, up 21 percent; sliced deli ham and milk, each up 16 percent; and shredded cheddar cheese, up 15 percent. The total average price for the 16 items was up about 15 percent compared to one year ago.
Two items decreased in price: sirloin tip roast dropped 20 cents to $4.28 per pound and ground chuck dropped 2 cents to $3.27 per pound. Toasted oat cereal remained the same in price, at $3.17 for a 9-ounce box.
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