Terry Etherton
The latest American Farm Bureau Federation (AFBF) Marketbasket Survey was released in July, 2007. The informal survey shows the total cost of 16 basic grocery items in the second quarter of 2007 was $42.95, up about 4 percent or $1.61 from the first quarter of 2007. A total of 82 volunteer shoppers in 32 states participated in the latest survey, conducted during May. Of the 16 items surveyed, 14 increased, one decreased and one stayed the same in average price compared to the 2007 first-quarter survey. Compared to one year ago, the overall cost for the marketbasket items showed an increase of about 8 percent. Regular whole milk showed the largest quarter-to-quarter price increase, up 34 cents to $3.46 per gallon. Continue reading Food Costs Increase and the Smoke and Mirrors of rbST-Free Milk Marketing Rolls On