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Kentucky retail food prices get slight bump

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Louisville, KY – The latest Marketbasket Survey, conducted by the Kentucky Farm Bureau Federation in March 2014, indicates that average retail food prices in supermarkets across the state are holding fairly steady with just slight increases reported in the first quarter of the year. According to the survey findings, the total cost of 40 basic grocery items was $120.69. These results were $0.61, or 0.5 percent, higher than the same list of items reported in the fourth quarter of 2014, the previous record high.
This Marketbasket Survey total does reflect a 3.8 percent increase over the average price reported in the first quarter of 2013. The United States Department of Agriculture is additionally forecasting an overall 2.5 to 3.5 percent increase in food prices during 2014.
Five years ago the average cost of the same 40 surveyed grocery items was $110.22, or 9.5 percent less than what these items cost on average today.
In comparison to national food price trends, the U.S. Department of Labor’s Bureau of Labor Statistics’ most recent Consumer Price Index data revealed that food-at-home prices also increased by just 0.5 percent in the last reported month.