Retail food prices at the supermarket increased during the first quarter of 2011, according to the latest American Farm Bureau Federation Marketbasket Survey.
The informal survey shows the total cost of 16 food items that can be used to prepare one or more meals was $49.07, up $2.10 or about 4 percent compared to the fourth quarter of 2010. Of the 16 items surveyed, 13 increased, two decreased and one remained the same in average price compared to the prior quarter. The total average price for the 16 items was up $3.53 (about 8 percent) compared to one year ago.
Shredded cheddar cheese, vegetable oil, ground chuck and flour increased the most in dollar value compared to the fourth quarter of 2010. Together, these four items accounted for the majority of the quarter-to-quarter increase; shredded cheese increased 47 cents to $4.63 per pound; vegetable oil increased 29 cents to $2.88 for a 32-ounce bottle; ground chuck increased 27 cents to $3.10 per pound; and flour increased 52 cents to $2.51 for a 5-pound bag.
Other items that increased in price since the fourth quarter were boneless chicken breasts, up 22 cents to $3.32 per pound; orange juice, up 17 cents to $3.14 for a half-gallon; toasted oat cereal, up 17 cents to $3.05 for a 9-ounce box; Russet potatoes, up 14 cents to $2.64 for a 5-pound bag; bread, up 13 cents to $1.88 for a 20-ounce loaf; whole milk, up 11 cents to $3.46 per gallon; sliced deli ham, up 7 cents to $4.91 per pound; eggs, up 2 cents to $1.62 per dozen; and sirloin tip roast, up 1 cent to $3.96 per pound.
“Home cooks shopping for staples to make their favorite shepherd’s pie or chicken pot pie recipe will definitely leave the grocery store with lighter wallets this quarter,” said John Anderson, AFBF economist. “As anticipated, the increased consumer demand for meats and dairy products that began in 2009 and continued through 2010 remains evident as we look forward to the middle of 2011.”
Most items showing an increase in retail price from quarter-to-quarter also showed year-to-year increases. Compared to one year ago, ground chuck was up 18 percent, potatoes were up 17 percent, chicken breasts were up 13 percent and flour was up 11 percent.
“Retail price increases for some foods are likely to continue throughout the year, as it takes time for farmers to increase the size of their herds to accommodate increased demand,” Anderson explained.
Although bacon dropped 46 cents per pound (to $3.86) compared to the last quarter of 2010, it was 20 percent higher than a year ago. Bagged salad dropped 3 cents to $2.66 for a 1-pound bag compared to the prior quarter and Red Delicious apples remained the same in retail price from quarter-to-quarter, $1.45 per pound.