Farm Bureau Survey Finds Drop in Grocery Prices

Posted on May 1, 2017
Author Mary Perren, WKVI

Grocery prices have dropped significantly over the past year, according to an Indiana Farm Bureau survey.

In Indiana prices are down 14 percent over last year. Nationwide the American Farm Bureau Federation survey finds a decrease of about 6 percent.

American Farm Bureau Federation Director of Market Intelligence John Newton says lower farm-gate prices have led to continued declines in retail prices for livestock products, including eggs, beef, chicken, pork and cheese.

The INFB market basket total of $45.99 for 16 food items is the lowest since 2012, which is when the survey adopted its current shopping list. The same 16 items were $52.61 this time last year.

The survey found 14 of 16 items dropped in price compared to last spring. Cereal and eggs, orange juice and boneless chicken breasts saw the biggest declines.

The survey’s prices compared to a year ago are:

• Cereal, down $1.11 to 2.04 for a 10-ounce box.
• Eggs, down $1.04 per dozen to $1.22.
• Orange juice, down 82 cents to $2.80/half gallon.
• Boneless chicken breasts, down 77 cents to $2.59/pound.
• Vegetable oil, down 68 cents to $1.79 for a 32-ounce bottle.
• Sirloin tip roast, down 67 cents/pound to $4.89.
• Whole milk, down 51 cents to $2.27/gallon.
• Ground chuck, down 49 cents to $3.83/pound.
• Potatoes, down 26 cents per 5-pound bag to $2.47.
• White bread, down 24 cents per 20-ounce loaf to $1.26.
• Bacon, down 17 cents to $4.68/pound.
• Flour, down 16 cents per 5-pound bag to $2.15.
• Apples, down 8 cents to $1.79/pound.
• Shredded cheddar cheese, down 4 cents per pound to $4.08.
• Sliced deli ham, up 37 cents to $6.02/pound.
• Bagged salad mix, up 5 cents to $2.11/pound.

The INFB survey is part of a nationwide survey compiled by the American Farm Bureau Federation from data supplied by state Farm Bureaus.

AFBF has been conducting the informal quarterly market basket survey of retail food price trends since 1989. The series includes a spring survey, summer cookout survey, fall survey and Thanksgiving survey. A total of 117 shoppers (11 of them from Indiana) in 31 states participated in the latest survey, conducted in March.