Ky. food prices fall in fourth quarter

Retail food prices in supermarkets across Kentucky fell 0.3 percent during the fourth quarter of 2012 compared with the third quarter, according to Kentucky Farm Bureau Federation. The cost of the basket of 40 basic items fell 38 cents to $115.53.

Of the six food groups included, dairy saw the greatest decrease, with an average price drop of 2.9 percent, or 66 cents. Beef was the only category to see an increase in price: 4.6 percent, or $1.44.

A half-gallon of vanilla ice cream was the single item with the largest price decrease, an average drop of 66 cents. The largest price increase for a single item was T-bone steak, which jumped $1.26 a pound.