Jan 14, 2005
Retail prices for food at the supermarket dropped about four percent in the fourth quarter of 2004, retracting most of the increase recorded in the third quarter, according to the latest American Farm Bureau Federation market basket survey. The informal survey on the total cost of 16 basic grocery items showed a decrease of $1.51 from the 2004 third quarter survey. The third quarter average price for the market basket items was $1.53 higher than the second quarter. The $38.87 average paid by volunteer shoppers for the 16 items is $1.44 higher than the 2003 fourth quarter survey average of $37.43.