July 23, 2014

Food prices see slight drop

Wisconsin food prices saw a modest decrease over the last few months. According to the latest Market Basket Survey from the Wisconsin Farm Bureau Federation, the total average price on 16 common food items over the last quarter was $49.60. It was drop of 72 cents, or about one percent, over the second quarter of the year and about where prices were during the first quarter of 2012.

Farm Bureau Federation spokesman Casey Langan says one factor that helped keep the bill down was relatively stable energy prices over the last few months. While fuel costs have remained high, they have not moved much. He says that helped limit increases in transportation or production costs.

While Wisconsin has been experiencing a severe drought since June, it has not had a huge impact of food prices in the state yet. Langan warns we could feel the effects starting in 2013 though. He says that’s especially true for products such as beef, after many farmers reduced herd sizes because of the rising price of feed for livestock. While that helped to lower prices on beef in the short term, it could lead to a price increase next year since it will take time for farmers to get herd sizes back up.

AUDIO: Andrew Beckett reports (1:16)