Saturday, November 26, 2016

Kentucky grocery prices fall

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After a slight increase in food prices was experienced during the second quarter of 2016, third quarter results returned to declines, according to the latest Kentucky Farm Bureau Marketbasket Survey.

This marks the sixth quarter out of the last seven in which food prices have dropped, denotes the survey which represents the average total cost of 40 basic grocery items. Overall the cost of the items totaled an average of $118.51 as compared to the $120.16 recorded during the second quarter of 2016.

The decrease of 1.39 percent was led by a 9.64 percent decrease in the poultry category which includes the price of eggs. The next largest decline came by way of the beef category which dropped by 2.99 percent.

The largest increases were attributed to pork, which jumped by 3.68 percent followed by fruits and vegetables which were up a 1.04 percent.

The U.S. Consumer Price Index shows a decline in grocery costs across the nation.

Kentucky grocery price changes from previous quarter
  • Ham: up 44 cents per pound
  • Potatoes: up 23 cents per 10 pounds
  • Center cut pork chops: up 28 cents per pound
  • Ribeye steaks: down 61 cents per dozen
  • Cheddar cheese: down 31 cents per pound
  • Red delicious apples: down 31 cents per pound