Business

Food prices in Wis. nudge upward in 2nd quarter

Posted July 19, 2012 4:57 am

Associated Press

MADISON, Wis. — A survey by the Wisconsin Farm Bureau Federation says the average price of groceries nudged upward slightly during the period from April to June.

The bureau’s `marketbasket’ survey totals the cost of 16 common food items. In the second quarter of 2012, the total was $50.32. That’s up 1.6 percent from the previous quarter, and up 1.7 percent from the same quarter last year.

Federation spokesman Casey Langan says the modest increase reflects the fact that energy prices have stabilized. He says the effects of the current drought won’t be felt for months.

The items whose prices increased at least 7 percent last quarter included sirloin tip roast, all-purpose flour and vegetable oil.

A similar survey conducted nationwide found the average price of the 16 items was $50.91.

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