Farm Bureau report shows food prices leveling - East Valley Tribune: Business

Farm Bureau report shows food prices leveling

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Posted: Tuesday, July 8, 2008 11:23 pm | Updated: 11:57 pm, Fri Oct 7, 2011.

Arizona food prices have risen 12 percent in the past year, according to the latest Arizona Farm Bureau Federation Marketbasket Survey.

But the report for the second quarter, released Tuesday, showed prices were up a more modest 1.6 percent from the first quarter, indicating that Arizona food-price hikes may be starting to moderate, the federation said.

Price check: Arizona retail food prices for commonly purchased items in 2008 first quarter vs. second quarter., Graphic by Scott Kirchhofer/EAST VALLEY TRIBUNE, SOURCE: Arizona Farm Bureau Federation

“The encouraging note with (the) latest report is it looks like things are leveling off a bit, and this is good news for Arizona families,” said Farm Bureau President Kevin Rogers.

In the first quarter, Arizona food prices were up 19 percent year-over-year, said Julie Murphree, the federation’s director of communications.

And an earlier quarterly report showed a sequential increase of about 8 percent in a single quarter, she said.

Of the 16 items surveyed in Arizona, eight increased in price over the first quarter, six decreased and two remained the same, the bureau said.Collectively, the 16 items cost $54.39, up 86 cents from the first quarter and up $5.77 from the same quarter a year ago.

Rogers blamed higher fuel costs, not higher crop prices driven by supply-and-demand forces, for the continuing increase in prices at the grocery store.

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