LOUISVILLE, Ky. — The most recent Kentucky Farm Bureau Marketbasket Survey indicates a slight increase to the overall cost of food to begin 2019.
The Marketbasket Survey is taken four times per year at the end of each quarter to monitor overall and categorical trends in food prices across the commonwealth. The survey gathers the prices of 40 basic food items throughout the state and then averages the numbers into six categories: beef, pork, poultry, dairy, fruits and vegetables, and grains.
The average overall cost of food prices in the first quarter of 2019 was $118.64, up 1.85% from $116.44 in the fourth quarter of 2018. These findings are a shift from the end of last year, which indicated overall decreases of $0.97 in the third quarter and $0.86 in the fourth quarter, respectively.
Like in Kentucky, the national findings from the latest Consumer Price Index report in March shows an overall increase in food prices as well. The summary indicates the overall cost of food increased 2% over the past year, which marks the largest 12-month increase since April 2015.