If you’ve been to the grocery store lately, you may have noticed a lower bill. The Wisconsin Farm Bureau Federation says the average cost of a few popular food items are down 8 percent from last year. FOX 25/48’s Abigail Hantke explains why we’re seeing these lower prices and how long they may stick around.
“Have you noticed prices going down at all? No I haven’t.’”
“They only go one way, up.”
But according to the Wisconsin Farm Bureau, prices have dropped nearly 8.2 percent from last year on a few popular items, like beef, milk and eggs.
“For my family I would say I probably save about 10 dollars a week.”
UW-Extension agriculture agent, Mark Hagedorn says we’re just finally starting to see these lower prices because of 3 things: the decline of price of corn, soybeans and milk over the last four years.
“The value of corn, soybeans, milk has been devalued almost 50 percent so I would say it’s probably about time that the consumer benefits from these substandard market prices.”
But it comes at different price to the farmer.
“I think it’s a double edge sword, I really do. I like going and buying milk for under two dollars a gallon. It makes my grocery bill considerably less. With that said, the farmer that is out their buying expensive finisher calves, spending a year raising and being paid to sell them at least 600 dollars a head, that’s a tough row to hoe.”
The Wisconsin Farm Bureau says their survey found the average cost of groceries cost 49 dollars, 70 cents lower than the national average.
Abigail Hantke, FOX 25/48 News at 9.