by Diane Olson
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“It’s a great day to be alive and live in the Ozarks!” This daily greeting blared from the radio in my childhood home in southwest Missouri. What a positive way to begin the day!
As I reviewed the prices gathered in the first quarter Marketbasket survey, my mind wandered back to this expression. Since Missouri prices were again less than the national average, perhaps “it’s a great time to live in Missouri” would be an appropriate way to announce the latest survey results.
Each quarter, prices are gathered across the state and nation on 16 food items reflecting a cross section of agricultural products. Last quarter, in an unusual turn, Missouri prices were higher than the national average. This quarter they dropped lower compared to other states.
In the first quarter of 2012, the average price for Missouri shoppers rang in at $46.87 compared to $52.01 in the final quarter of 2011, a decrease of $5.14. However, shoppers saw an increase of $2.25, compared to one year ago when the same items cost $44.62.
Nationally, the total price for the quarter was $52.47, reflecting a $5.60 savings for shoppers in the Show Me state. This is welcome news since the last quarter.
Within the state, prices dropped on 12 items and increased on four. At the meat counter ground chuck, sirloin tip roast, bacon, sliced deli ham and chicken breasts all showed price drops. Other items with lesser cost this quarter are eggs, apples, potatoes, orange juice, salad mix, bread and vegetable oil. Those with increases are milk, shredded cheese, flour and cereal.
Since mid-2010, meat and dairy counter prices have accounted for most price increases. According to the United States Department of Agriculture, meat prices likely topped out in February and wholesale prices are on a decline. Demand for protein foods around the world remains strong.
Many factors impact grocery prices, and energy costs continue to be the wild card. When oil prices exceed $100 per barrel, it is reflected in costs associated with producing, processing, packaging and transporting food products.
Missouri food prices are historically lower than the national average. Following last quarterÆs contrary report, the latest news reinforces the sentiment: It is great to live in Missouri.
(Diane Olson, of Jefferson City, Mo. is director of promotion and education for the Missouri Farm Bureau, the state’s largest farm organization.)