Retail Food Prices Down Just a Bit in Third QuarterTue, 05 Oct 2010 17:18:58 CDT
The latest American Farm Bureau Federation Marketbasket Survey shows a slight dip in retail food prices at the supermarket during the third quarter of 2010. According to the informal survey - the total cost of 16 food items was $46.17 - down $1.03 or two-percent compared to the second quarter. The average price for 10 of the items decreased. Six of the items increased in average price.
Sliced deli ham, sirloin tip roast, flour, bread and egg prices declined the most - with sliced deli ham prices down 58-cents per pound. Prices for toasted oat cereal, shredded cheddar cheese, vegetable oil, bagged salad and orange juice were also lower. The prices increased slightly for boneless chicken breasts, Russet potatoes, bacon, whole milk, apples and ground chuck.
Farm Bureau Economist John Anderson says retail food prices overall have remained relatively stable in 2010. He says this price data - collected by 62 shoppers in 33 states in August - shows that pattern is continuing to hold.
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