Lower retail prices for several foods, including whole milk, cheddar cheese, bacon and apples resulted in a slight decrease in the American Farm Bureau Federation’s Fall Harvest Marketbasket Survey. The informal survey 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. Of the 16 items surveyed, 10 decreased and six increased in average price. Higher milk and pork production this year has contributed to the decrease in prices on some key foods.
The year-to-year direction of the marketbasket survey tracks closely with the federal government’s Consumer Price Index report for food at home. As retail grocery prices have increased gradually over time, the share of the average food dollar that America’s farm and ranch families receive has dropped.