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Ag News
Retail Food Prices Rise Again in 3rd Quarter
Published Friday, October 03, 2008 at 04:50 AM
Eleven of the items increased in price - and the remaining items decreased in average price compared to the previous survey. Consumers saw the biggest increases in the price of potatoes - up 83-cents per five-pound bag - cheddar cheese - up 31-cents per pound - and apples - 26-cents more per pound. That’s the third consecutive increase in the cost for apples. Pork chops increased 22-cents per pound - vegetable oil is an extra 18-cents - and a bottle of corn oil will cost 15-cents more. Consumers are also paying more for sirloin tip roast - up 14-cents a pound - and ground chuck - up 10-cents per pound. Mayonnaise, flour and whole milk round out the items that increased in price.
Prices for a dozen large eggs are down for the second quarter in a row - this time 11-cents cheaper - white bread dropped 11-cents - whole chicken fryers and bacon are down six-cents per pound - and a box of toasted oat cereal is a penny cheaper.
Farm Bureau Economist Jim Sartwelle says the long-term effects of high energy prices are reflected in several staple food items. He notes reduced potato acreage and some production losses led to higher-priced potatoes - the top gainer in this quarter’s survey.
Seventy-four volunteer shoppers in 32 states took part in AFBF's Marketbasket survey for the third quarter of 2008. The survey was conducted during August
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