Business

Grocery prices rise 4.7 percent

Retail food prices in supermarkets across Kentucky jumped 4.7 percent during the second quarter compared with the first quarter of 2010, according to data prepared by the Kentucky Farm Bureau Federation.

The basket of 40 basic grocery items rose $4.86 to a cost of $108.48, the highest market basket total since the first quarter of 2009.

The federation reported that 17 of the items actually experienced minor decreases in average price, but the composite market basket average price increased dramatically because of major jumps in cost found in the 21 items that increased. Two items, lettuce and wheat bread, had no change in their average price.

Of the six food groups included in the survey, beef showed the greatest increase, up an average 13 percent. Fruits and vegetables made the largest decline, with an average price drop of 2.6 percent. The largest single-item changes were found in T-bone steaks, with a $1.82 increase; tomatoes and a dozen large eggs both showed 51-cent decreases in price.

On average, a farmer's share of a dollar spent at retail is 19 cents.

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