Cost of Groceries Increases
The Kentucky Farm Bureau’s latest Marketbasket Survey shows an increase in food prices in Kentucky.In the first quarter of 2011, the total cost of 40 basic grocery items in the commonwealth was nearly $115. That’s up $5.73 over the cost of the same items in the fourth quarter of 2010. In the first quarter of 2010, the same items cost $104.The Kentucky Farm Bureau says 30 of the 40 items on the list have seen price increases this year. Bell peppers, corn oil, sirloin tip roast, butter and mild cheddar cheese are costing you more at the supermarket.But vegetable oil, whole fryers, dill pickle slices, cut-up fryers and whole smoked hams have seen recent price declines.The U.S. Department of Agriculture estimates Americans spend around 10 percent of their disposable income on food each year. Of that money, 58 percent is used to purchase food that is consumed at home.