Retail food prices at the supermarket increased slightly during the second quarter of 2010, according to the latest American Farm Bureau Federation Marketbasket Survey.
The informal survey shows the total cost of 16 food items that can be used to prepare one or more meals was $47.20, up $1.66 or 4 percent compared to the first quarter of 2010. The total average price for the 16 items increased about 2 percent compared to one year ago. Of the 16 items surveyed, nine increased and seven decreased in average price compared to the prior quarter.
Sirloin tip roast, sliced deli ham, bacon, boneless chicken breasts and ground chuck increased the most in dollar value since the first quarter.
Montana Farm Bureau Federation shoppers found that both the sirloin tip roast at $3.99 and chicken breast at $1.86 were less than the national average. However, Deli-sliced ham was almost .90 cents more than the national average and milk was slightly pricier at $3.39 a gallon compared to $3.06 per gallon national average. Following the national trends, russet potatoes at Montana stores were down in price, as were apples and eggs.
Said AFBF Economist John Anderson. “As livestock producers of all types have reduced the size of their herds, wholesale meat supplies have tightened up, which is now affecting consumers.”
Items that nationally increased in price since the first quarter were bagged salad, up 13 cents to $2.80 for a 1-pound bag; flour, up 9 cents to $2.35 for a 5-pound bag; bread, up 5 cents to $1.76 for a 20-ounce loaf; and orange juice, up 2 cents for a half-gallon to $3.00.
Seven foods dropped in price compared to the prior quarter including Russet potatoes, eggs, vegetable oil, shredded cheddar cheese, whole milk, apples and toasted oat cereal.
Using the “food at home and away from home” percentage across-the-board, the farmer’s share of this quarter’s $47.20 marketbasket would be $8.97.
The Big Sky Business Journal
P.O. Box 3262
Billings, MT 59103