Your Easter basket is just a little pricier this year, according to the lastest American Farm Bureau Federation Spring Picnic Marketbasket Survey.
Higher retail prices for several foods including eggs, orange juice, meat products, bagged salad, shredded cheddar and vegetable oil contributed to the overall increase of two percent compared to last year. The informal survey showed the total cost of 16 food items that can be used to prepare one or more meals was $51.05, up $1.02 from a year ago. Of the 16 items surveyed, nine increased and seven decreased in average price.
AFBF director of market intelligence John Newton says eggs are 37 percent higher than a year ago. “U.S. egg exports were up nearly 50 percent in 2017 while egg production remained flat,” which led to the strong rise in retail egg prices, he said, noting that bird flu outbreak in South Korea contributed to the increase in U.S. export volumes.
Orange juice prices are up 24 cents or 7.5 percent this year, thanks to Hurricane Irma which contributed to Florida citrus growers harvesting the smallest crop in 70 years.
Several foods showed modest retail price decreases from a year ago: whole milk, white bread, chicken breasts, toasted oat cereal, apples, potatoes and flour.