I have been participating in a food inflation survey with As A Mom since the middle of November 2010. They just posted some of the most recent results and I thought I’d share them. It’s rather interesting. Keep in mind that this only covers an 8 week period.
Inflation Study 2010-2011 Analysis Highlights:
* 25 of 36 items tracked in the survey (69%) had increases in average price over the course of the study, while 5 items (14%) have remained fairly flat in average price. The average price of 6 items (17%) has trended slightly lower over th…e study.
* All 4 of the Dairy Category items tracked, Milk, Butter, Eggs and Cheese, have shown average price increases of 3.9%, 5.7%, 4.5% and 4.0% respectively over the past 8 weeks.
* Vegetable Oil has shown an 11% increase over the past 8 weeks with the average price increasing from $3.39 to $3.81.
* Toilet paper has shown an average increase in retail price of 6.4%, however, more significant is the large (40.2%) increase in modal price from $5.97 in Week 1 to $9.99 in Week 8.
* Regular Gasoline has increased in price 7.4% from an average of $2.84 in Week 1 of the study to $3.06 in Week 8.
* The Average Total Basket for the items tracked in the study has shown an upward trend over the study to date. The increase from $116.14 to $118.40 indicates a food and energy inflation rate of 1.9% in 8 weeks.
Looks like the inflation experts might be right in that we’re about to be hit with some pretty hefty inflation.
Joy to the world.