Bacon Prices Up, Eggs Too
Washington--Higher retail prices for several food items used to prepare breakfast, including bacon, eggs and bread, among other foods, resulted in a slight increase in the American Farm Bureau Federation's latest Semi-Annual Marketbasket Survey.
The informal survey shows the total cost of 16 food items that can be used to prepare one or more meals was $53.27, up $1.73 or about 3.5 percent compared to a survey conducted a year ago. Of the 16 items surveyed, 10 increased, five decreased and one remained the same in average price.
"Several typical breakfast items increased in price, accounting for much of the modest increase in the marketbasket," said John Anderson, AFBF's deputy chief economist. "The 3.5 percent increase shown by our survey tracks closely with Agriculture Department's forecast of 2.5 percent to 3.5 percent food inflation for 2014," he said.