Every small town has its characters, and my hometown was no exception. Bert was a quiet man who never spoke unless addressed. When asked how he was, he always replied, “tolerable.” His temperament never experienced the swings from elation to depression – always tolerable.
As I review food prices released by U.S. Department of Agriculture and the Food and Agriculture Organization, the word tolerable comes to mind. Prices aren’t as low as we have seen them, nor are they as high as 2008 and early 2009. To compare Missouri and national food prices, we did an early Market Basket Survey, just short of the end of the second quarter, to capture a comparison.
Missouri’s prices for the 16 items surveyed rang in at $47.23 compared to $44.62 during the first quarter. During the same period last year, the bill was $43.70. Twelve items increased in price while four had decreased, compared to the previous year where 14 items increased and two decreased.
Energy costs continue to play a major role in food prices. Oil prices at or near $100 per barrel heavily impact the overall cost of production, processing, packaging and transporting food items. Global economies are improving, thus creating greater demand for food.
Price changes were noted at the meat and dairy counters. Continued tighter wholesale meat supplies and consumer demand have impacted prices. Bacon jumped 45 cents to $4.25 per pound while eggs were flat at $1.46 per dozen. Widespread drought in some cattle-producing regions, increased production costs and greater consumer demand for meat products is evidenced at the meat case.
Five pounds of russet potatoes averaged $2.93 compared to $2.70 in the first quarter. The overall potato supply is weak and planting has been delayed in major production areas due to cool wet weather. These factors create a tighter supply and thus, higher cost.
Missouri shoppers once again found food items cost less than the national average. According to the American Farm Bureau, the average cost across the nation for the same bill of groceries rang in at $51.17, or $3.94 more than Missouri’s average.
The USDA forecasts a 3 percent to 4 percent increase in the Consumer Price Index for all food in 2011. To make food shopping more “tolerable,” while meeting the nutritional needs of the family, consumers must continue to be wise shoppers. This can include capitalizing on seasonal items, enjoying fresh products from a home garden, being a savvy shopper and utilizing coupons.
—Diane Olson, Jefferson City, Missouri Farm Bureau[[In-content Ad]]
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