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Farm Bureau food price survey shows continued stability

The deputy chief economist with the American Farm Bureau Federation says a recent survey suggests a continued period of stable food prices.

Dr. John Anderson tells Brownfield the Fall Harvest Marketbasket survey shows price stability over the past year.

“As we look ahead, with energy prices expected now to remain pretty stable; maybe not as low a level as they are now…but historically what looks to be pretty attractive levels.  With some increasing production coming along in the beef sector.  (also) Dairy and pork production are expected to hold up, looking ahead I expect to see fairly stable food prices for the next year as well.”

According to the survey, Americans are paying $54.14 on average for 16 staple food items selected by AFBF, down 12 cents from a year ago. Whole milk has decreased the most in price, off 17 percent; while egg prices have risen 56 percent since last fall. Anderson says avian flu is mostly to blame for that jump.