Funny writing style, "up a few dollars" works out to 12.65% yoy, almost hyperinflation. Time to revist this post, for some insight on what 12-13% food inflation means.
Subject 54034
Survey shows increase in Missouri food prices
By VICTORIA SIZEMORE LONG
The Kansas City Star
Retail food prices in Missouri rose in the first quarter but stayed well below the national average, according to a leading farm industry survey.
An informal survey by the American Farm Bureau and the Missouri Farm Bureau found that the total cost for 16 basic items at Missouri groceries averaged $34.12 in the first quarter of 2004 , compared with the national first-quarter average of $39.84.
The survey also showed that the first-quarter 2004 Missouri prices were up a few dollars from the first quarter of 2003, when the same 16 items cost $30.29.
The Kansas Farm Bureau does not conduct a similar survey.
Diane Olson, director of promotion and education for the Missouri Farm Bureau, said that, as with the national rise in food prices, vegetable oils showed the largest increases in price in Missouri in the first quarter.
“Because of the low supply of oilseeds, we have a reduction in cooking oils, resulting in a nationwide increase of 46 cents for a 32-ounce bottle of corn oil and 48 cents for vegetable oil,” Olson said.
Higher energy prices also contributed to the higher cost for food. Olson noted that when gasoline and diesel fuel go up, food processors, distributors and grocers add their increased fuel costs to the price of the food they sell.
Other items that rose in price were center-cut pork chops, whole fryers, grade A large eggs, whole milk, flour, a 20-ounce loaf of bread and mayonnaise.
Missourians paid lower prices during the first quarter for ground chuck, sirloin tip roast, bacon, apples, potatoes and whole milk. Wheat cereal was unchanged in price.
The survey was done in late February and early March. |
