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Mo. food prices outpace national averageMissouri Missouri food price increases have outpaced national trends, according to Missouri Farm Bureau's year-end Marketbasket Survey. The American Farm Bureau also tracks food prices each quarter on the same 16 items nationally that represent a cross-section of agricultural products. "The fourth quarter results reveal food prices continued to climb in supermarkets across Missouri," said Diane Olson, director of promotion and education for the Missouri Farm Bureau. "This quarter's Missouri average was higher, at $52.01, than national prices, which ended at $49.23. Typically, Missouri comes in under the national average." Up from $49.32 in the third quarter, Missouri's average prices increased $2.69. In the fourth quarter of 2010, the items cost $47.87, revealing an increase of $4.14 year over year. "Even though food prices tracked higher, they were still consistent with the increase in other cost of living indicators," Olson said, "but because it is unusual for our prices to be higher than the national averages, it will be interesting to track that into the new year." Since last quarter, 11 items increased in price, four decreased and one remained the same. About 44 percent of the increase could be accounted for at the meat counter, where five of the six items cost more while one remained the same. The fruit and vegetable aisle accounted for another 38 percent of the quarter's increase. Three of the four items on our list--russet potatoes, salad mix and orange juice--cost more, while Red Delicious apples cost slightly less per pound. No obvious patterns appeared in other groupings. Shredded cheddar cheese prices increased, while whole milk prices dropped. Flour prices decreased, while bread prices increased. Energy costs remain a wild card in food prices. Keeping an eye on the price of fuel and the per-barrel price of oil provides some insight into fluctuations in food prices. Supply and demand continues to impact prices as recovery continues from the summer weather events and foreign demand for American food increases. Olson said most economists feel prices will return to a more normal pattern of increase as food price inflation subsides. However, once a commodity leaves the farm, other costs including transportation, processing, packaging and marketing, as well as supply and demand, impact what the consumer pays during a trip to the grocery store.
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