Basic grocery items rise 10.5% from last year

[UpInArms]

Source: CBS Marketwatch

SAN FRANCISCO (MarketWatch) -- Families have been feeling increasing financial pain at grocery-store cash registers, exacerbating their difficulties in the souring U.S. economy.

Here's how much it hurts: A basket of 16 basic food items cost $48.68 over the past three months, up 10.5% from a year ago, the American Farm Bureau Federation said Thursday.

The latest survey from the nation's largest farm organization underscores the pressures reverberating throughout the food chain, from the American farm to the executive suites of the largest U.S. packaged-food manufacturers.

Besides the elevated costs for basic food ingredients, rising energy prices have boosted processing, hauling, and refrigerating expenses for food makers including Kraft Foods Inc. (KFT: 33.54, +0.09, +0.3%) and Campbell Soup Co. (CPB: 39.47, -0.43, -1.1%)

Potatoes, cheddar cheese and apples posted the largest price gains from the second quarter of this year. A five-pound bag of potatoes cost $3.38, up 83 cents. Cheddar was $4.91 a pound, up 31 cents. Apples fetched $1.80 a pound, up 26 cents.

Among other items that rose are the following: pork chops, up 22 cents to $3.62 a pound; ground chuck, rising 10 cents to $2.95 a pound; and whole milk, costing 4 cents more at $3.92 a gallon.

Read more: http://www.marketwatch.com/news/story/filling-grocer-cart-costing-105/story.aspx?guid=%7B41F26EF6%2DFF28%2D4EA7%2D9BD5%2DF8AFA64A01BA%7D

[kestrel91316]

1. Wrong. 25-50% from what I've seen.

[AllieB]

3. I agree. Dairy products, eggs, and fresh produce are through the roof.

And not just in Whole Foods.

[glinda]

8. 25-50%

They are wrong.

[LisaM]

2. I hope Biden gets this information before tonight

And finds a way to throw it in there.

[lifesbeautifulmagic]

4. right, and we have talking heads on the business channels

telling us that the reason car sales are down is because of the "credit crunch".

[Frustratedlady]

5. They aren't serious?

They've raised much more than that. If they know of a good store to shop at, let us know.

[babydollhead]

6. a cashier at a local Giant Eagle,

told me that the day they raised the minimum wage, all of the food prices went up. I think that is so fucked. Cereal was the first thing they started hiking up years ago.

[mbperrin]

7. Can't be!!!!!!!!!!!!!! The malmisadministration has been tellin' me

that inflation is 2 or 3 per cent for years now! You don't think they LIE to me, do ya?

:eyes:

[Alcibiades]

9. Food and energy are excluded from the inflation numbers

because of volatility. Why that's a good reason to do so, I don't know--it's not like anybody uses food or energy.

[Love Bug]

24. They do that because COLA raises for Social Security

are linked to the official inflation numbers, or something like that. This way they don't have to give seniors more money when food goes up. Bastards.

[MelissaB]

10. K&R

[sixmile]

11. I paid $2.00 for a single orange tonight!

In Florida no less. Outrageous.

[awoke_in_2003]

12. When I grill a steak

I like to put a red and yellow bell pepper on the grill. $1.99 a piece the other day. Unbelievable.

[tavalon]

13. I went to the store the other night and I swear they went up 10% from the previous week!

Maybe just the stuff I buy, I dunno know.

[tandot]

14. Only 10.5%? No way. I'd say at least 20%

I pay $4 for HALF a gallon of organic milk here in the Sacramento area

[jkappy]

15. Up at least 15% and NO MORE SALES

very few sales in the past several months in my neck of the woods.... only place i can get a deal on food is at low end family farm stands and at some you pick farms and orchards....

[pilar007]

16. Couscous

All I know is that a last year I could buy couscous for about $1.25. Today, I paid $3.45.

[minnesota_liberal]

17. No big deal. I got an 11% raise this year

Not really. Actually I'm making less than I earned in 2006. And if I'm lucky enough to keep my job, maybe I'll see a 3% raise next year.

Maybe it IS a big deal.

[CountAllVotes]

18. two very small bags of groceries cost me $50 yesterday

and there was no meat involved and very few vegetables. I bought some fruit, cheese and 1 lb. of coffee and two loaves of bread and frankly, that was about it! I had to pass on the "salad bar" as it went up to $7.59 a lb.!

Prices on food have gone up at least 30% where I live.

:dem:

[mainegreen]

19. We've switched to buying more bulk. 50 pounds organic flour: 35 bucks.

Only way to save is in HUGE quantities.

A pain in the ass to store, though.

[CountAllVotes]

23. I've been doing that too

I actually invested in a small Zojirushi bread machine in June that makes a 1 lb. loaf of bread. It has paid for itself already.

I use this to make organic bread (but yesterday they had a lovely organic sourdough whole wheat cranberry/pecan bread at the store and I couldn't resist).

I buy flour at Costco. You get 20 lbs. for $14.00. It really does save a lot but you need to have some bread flour on hand for the bread machine to work optimally.

Nonetheless, this approach has helped a lot. I too am buying less organic food than I used to. It is simply too expensive.

I noted that organic apples were priced at about $3.00 a lb. yesterday. I bought some locally grown ones priced at $1.15 a lb. instead. *sigh*

:kick:

[tylerdee]

20. Might have to stop buying organic

While most of the data for food increases is polled over "regular" food commodities, the organic food sector has seen a larger increase in cost. It's pretty much like paying twice as much as you did about 2 years ago. Goodbye organic.

[jkappy]

21. gone from 35% organic to 10%

rice and carrots and a couple other things---all else is just too high to justify... am learning the non-organic foods that are less toxic

[eilen]

22. I think it is way more

I shop from a list that use to run me about $120 for 7 days dinners for 4 plus coffee, breakfast stuff, laundry soap, cat food/litter. etc. I generally pack leftovers for my husband's lunch (he never buys). Many things come in smaller packages for higher prices. If Edy's ice cream containers get any smaller, they will have to call them Ben & Jerry. Domino sugar comes smaller, as does flour and coffee.

My weekly run is now $150 or more.

I purchase real food, not kits-- produce, meat, dairy, store brand staples-- stuff that generally does not have coupons.

[PM Martin]

25. Inflation is in the double digits, at least on your side.

This seems to be stagnation all over again.