The American Farm Bureau Federation’s Fall Harvest marketbasket survey found the total cost of 16 foods that can be used to prepare several meals was $51.13. The cost is up $1.43, or about three percent, from the survey results a year ago. AFBF Director of Market Intelligence John Newton says higher retail prices for several foods, including bacon, chicken breast and orange juice, were behind the increase.
He says the prices included in the survey reflect consumer demand. For example, consumers are purchasing more bacon, driving supplies down and prices up.
The Fall Harvest marketbasket survey is part of four food price trend surveys conducted by AFBF during the year. Compared to six months ago, when the cost of a summer cookout came in at $50.03, the overall cost of the marketbasket items increased by about two percent. The next survey will be the Thanksgiving survey.
The full results of the Fall Harvest survey are online at www.fb.org