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Missouri Food Prices Below Average

By The Missouri Farm Bureau

JEFFERSON CITY, Mo. – Missouri food prices fell back to more familiar territory last quarter, coming in below the national average, according to Missouri Farm Bureau’s (MFB) first quarter Marketbasket Survey. The American Farm Bureau also tracks food prices each quarter on the same 16 items nationally that represent a cross-section of agricultural products.

“In Missouri, our food prices regularly come in below the national average,” said Diane Olson, MFB director of promotion and education, “which makes this report welcome news after last quarter’s higher than average prices.”

In the first quarter of 2012, the average price for Missouri shoppers rang in at $46.87 compared to $52.01 in the final quarter of 2011, a decrease of $5.14. However, shoppers saw an increase of $2.25, compared to one year ago when the same items cost $44.62.

Nationally, the total price for the quarter was $52.47, reflecting a $5.60 savings for shoppers in the Show Me state.

Within the state, prices dropped on 12 items and increased on four. At the meat counter ground chuck, sirloin tip roast, bacon, sliced deli ham and chicken breasts all showed price drops. Other items with lesser cost this quarter are eggs, apples, potatoes, orange juice, salad mix, bread and vegetable oil. Those with increases are milk, shredded cheese, flour and cereal.

Since mid-2010, meat and dairy counter prices have accounted for most price increases. According to the United States Department of Agriculture, meat prices likely topped out in February and wholesale prices are on a decline. Demand for protein foods around the world remains strong.

Many factors impact grocery prices, Olson said, and energy costs continue to be the wild card. When oil prices exceed $100 per barrel, it is reflected in costs associated with producing, processing, packaging and transporting food products.

“Food prices have fluctuated over the last couple years,” Olson said, “and yet consumers have continued to enjoy a variety of food choices that meet our nutritional needs thanks to our farmers.”

 

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