Tuesday, September 29, 2015

Market Survey finds staple food prices are slightly lower this year; milk down 17%, eggs up 56%

Higher milk and pork production has led to savings at the grocery store for Americans. The American Farm Bureau Federation's (AFBF) annual Fall Market Harvest Survey, released on Monday, "shows the total cost of 16 food items that can be used to prepare one or more meals was $54.14, down $.12, or less than 1 percent compared to a survey conducted a year ago," states AFBF. "Of the 16 items surveyed, 10 decreased and six increased in average price."

Whole milk had the biggest drop, down 17 percent to $3.14 per gallon, according to the survey. Bacon was down 11 percent to $4.55 per pound, and apples were down 7 percent to $1.45 per pound. Shredded cheddar cheese (down 5 percent), flour (4 percent), bagged salad (4 percent), vegetable oil (3 percent), Russet potatoes (3 percent), white bread (1 percent) and chicken (1 percent) also declined in price.

Egg prices took the biggest jump, up 56 percent to $3.04 per dozen. The sharp increase was blamed on the avian flu in the Midwest. Orange juice increased by 7 percent, ground chuck by 6 percent, toasted oat cereal by 3 percent, sirloin tip roast by 3 percent and sliced deli ham by 1 percent. (Read more)

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