Food Costs Rising

1 decade 10 months 4 weeks ago Tuesday, July 24 2007 Jul 24, 2007 Tuesday, July 24, 2007 8:54:31 AM CDT July 24, 2007 in News

Dairy products, meat, fruits and vegetables are all going up.

"Prices are just like anything else; they're continuing to go up--it never seems like they go down," said Dave Klug, shopper.

If you add up the prices of your necessities at the supermarket, they have increased by $3.90 in the last four months. Milk is up 21 cents, eggs are up 46 cents, bacon is up 72 cents. A good breakfast is costing more than ever.

"It seems like people try to avoid some of the higher items more, but it's hard to do because it's those staple items like your produce, your milk, all the things that people really need," said grocery store manager Nicki Wootton.

"I doubt I'll stop buying meat or dairy, but I guess we could have boxed mashed potatoes, but that's not really how I do it," said shopper Catherine Miller.

Customers are asking a lot of questions, but managers say they don't have the answers.

"We basically just get a list from the distributer saying 'this is what you need to change your price to' and we don't have a choice," said Wootton. 

As grocery store managers struggle to understand rising prices, an MU economist says to look at the bigger picture.

"An issue that's arising across all goods and services, people are choosing what they want to consume based on the prices that they face and all prices are moving around constantly so to try to vet what is a particular causal force at this instant in time is impossible," said economics professor Joseph Haslag.

The Farm Bureau says the recent survey does not blame higher fuel prices for higher food prices. The Bureau goes on to say farmers are the only link in the food chain that can not pass along higher energy costs.

 

HERE IS THE 2ND QUARTER MARKETBASKET SURVEY

Food Item               2nd Quart.   1st Quart.  Difference  National Avg.  MO/National

Ground Chuck, lb         2.81               2.49              +.32               2.85               -.04

Sirloin Tip Roast, lb      3.72               4.21               -.49               3.99               -.27

Center Cut P C            3.51               3.18              +.33               3.63               -.12

Bacon, lb                    3.57               2.85               +.72              3.44               +.13

Whole Fryers              1.19                0.97               +.22              1.28                -.09

Grade A Lg Eggs         1.54                1.08                +.46             1.56                -.02

Whole Milk, Gal           3.38                3.17                +.21             3.46                -.08

Mild Cheddar Cheese  3.87                3.22                +.65             3.72                +.15

Red Del. Apples          1.56                1.21                +.35             1.45                +.11

Russet Potatoes          2.26                2.13                +.13             2.34                -.08

Oat Cereal 10oz         3.17                2.24                +.93              2.86                +.31

Flour 5 lb.                  1.88                1.66                +.22              1.92                -.04

Bread 20 oz loaf         2.01                1.61                +.40              1.58                +.43

Corn Oil                     3.16                3.21                -.05              2.78                +.38

Vegetable Oil 32oz      2.44                2.74                -.30              2.66                -.22

Mayonnaise                3.15                3.35                -.20              3.43                -.28

Total                         43.22             39.32             +3.90           42.95             +.27  

 

2007 2nd Quarter MO price compared with 1st Quarter are up $3.90

2nd Quarter MO compared to AFBF national prices are up $0.27

MO prices 2nd Q compared to 1st 12 increased 4 decreased

MO prices 2nd Q compared to AFBF 10 lower 6 high

 

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