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Thursday, July 31, 2014

Retail food prices continue to climb

Thursday, July 10, 2008

The Indiana Farm Bureau, in cooperation with the American Farm Bureau Federation, has been producing an informal survey of grocery store prices called the market basket since 1989.

Their latest report shows that retail food prices at he supermarket increased significantly in the second quarter of 2008 both statewide and nationally.

The total cost of 16 basic grocery items in the second quarter of 2008 was $46.67 nationally, up $1.64 from the first quarter of 2008 and up $3.72 from this same period last year.

Twelve items on the list of basic commodities increased in price while four decreased.

Cooking oils, flour and bread prices continue to respond upward. The biggest jump in Indiana's total were corn oil and vegetable oil, which increased dramatically--particularly corn oil, which rocketed up $1.21 cents per 32-ounce bottle for a total of $4.08.

Vegetable oil rose by 71 cents per 32-ounce bottle for a total of $3.24. Also showing an increase were whole chickens, up 61 cents to $1.50 per pound.

Another item showing an increase are eggs, up 49 cents to $1.85 a dozen. Bread was up 31 cents to $161 a loaf; whole milk was up 30 cents to $3.38 a gallon; oat cereal was up 23 cents to $2.93 a box; apples rose by 15 cents to $1.65 pound; bacon was up 12 cents to $3.27 pound; pork chops were up 5 cents to $3.37 per pound, flour was up 2 cents to $2.50 per pound bag and potatoes rose by 2 cents to $2.52 for five pounds.

The largest decrease in the market basket survey was for cheddar cheese, which dropped by 68 cents to $4.90 per pound. Decreases were also recorded for sirloin tip roast, down 24 cents to $3.86 a pound; mayonnaise, down 9 cents to $3.03 for a 32 ounce jar and ground chuck, down 8 cents to $2.51 a pound.

The survey, which is informal, is conducted quarterly by a total of 87 volunteers shoppers in 36 participating states.

According to Farm Bureau the survey is just a snapshot of what volunteers found when they went to their local grocery stores in early May.

Local residents are seeing grocery store prices go up and up.

One such shopper stood in front of the meat section of the store and bemoaned the rising cost of bacon.

"I guess we'll just have to stop eating bacon except on Sundays," said Marge Sills.

Another shopper in the cereal aisle tried to explain to her two children why they were buying a generic version of cereal rather than the usual box.

"It's got the wrong picture on it mommy. I don't want that one," the little one told her mother who sighed and put back the generic brand.

"Some battles are not worth fighting, I'm going to cave on this one," she said placing the more expensive name brand cereal in her cart.

To see the survey visit the Indiana Farm Bureau Web site at www.infarmbureau.org


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I wonder if the feds will help us by turning more of our food supply into an inefficient fuel produced through an even more inefficient process?

-- Posted by VonMises on Thu, Jul 10, 2008, at 10:40 AM

I hope VonMises!

Hey Check these out - THese are real interesting... Using Algae as Fuel! They can get 20,000 gal/ acre from algea and only 20 gallons form Corn!

http://www.cnn.com/2008/TECH/science/04/...

http://www.greenchipstocks.com/

http://www.greenfuelonline.com/news/alga...

Why isn't the governament doing anything about it? if we had 10% of New Mexico run these Algae systems, it would support all transportation all year. even planes, diesels, etc!

-- Posted by luv2bmom2001 on Thu, Jul 10, 2008, at 5:03 PM

Then they wonder why some people can't eat healthy.

-- Posted by what_it's_worth on Thu, Jul 10, 2008, at 9:32 PM

Interesting.

A good idea will attract investors. A bad idea will never become a good idea no matter how much tax money is thrown at it, or how many bureaucrats regulate it.

If the algae process proves to produce useable amounts of fuel economically, then investors will undoubtedly find Mr. Kertz. Apparently that's happening now. I wish him well and hope it works out.

We have our energy problems because of government meddling and regulation. So in the mean time, we need separation of energy and state!

-- Posted by VonMises on Fri, Jul 11, 2008, at 11:09 AM


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