AFBF: Food Prices Down Across U.S.

The latest American Farm Bureau Federation (AFBF) Marketbasket Survey of retail food prices decreased slightly for the third consecutive quarter.

The survey shows that the total cost of 16 food items generally used to prepare a meal was $46.29, down about 2% or $1.12 from the first quarter of 2009. Of the 16 items surveyed, 10 decreased, five increased and one remained the same in average price compared to the prior quarter. Overall, the average price for the marketbasket of foods declined $3.10 or about 6% over a year’s time.

AFBF has been conducting the quarterly marketbasket survey of retail food price trends since 1989.