From Deseret News archives:
Cost for 'basket' of 15 goods rises 7.5%
The price of the News' basket of 15 items, tracked since April, rose 1.1 percent in the past month a much steadier increase than the 9 percent jump recorded between August and September, and a rise of 7.5 percent since April.
The U.S. Department of Agriculture projects an overall 5 percent to 6 percent increase in the price of food for 2008, the highest annual increase in 18 years. And the economic and commodity analysis firm Advanced Economic Solutions estimates food prices will rise an average 9 percent a year through 2012.
"The food manufacturers are high-volume, low-margin companies that have initially absorbed a lot of the costs of higher commodities prices," said Scott Faber, vice president of federal affairs for the Grocery Manufacturers Association, a trade group that includes Kellogg Co., Kraft Foods Inc. and Kroger Co. "But ultimately, higher commodities prices will be reflected in higher retail prices in the grocery aisle."
"We can't really speculate on specifics at this point in time because new opportunities may present themselves for cost savings that we haven't thought of yet," vice president of public affairs Marsha L. Gilford said in an e-mail to the Deseret News. "We continue to also look for other ways to deliver savings, like through $4 generic prescriptions and fuel savings."
The Deseret News since April has been tracking prices of milk, bread, frozen corn, laundry soap, hamburger meat, diapers, eggs, orange juice, Cheerios, Oreos, bananas, movie tickets, gasoline, takeout pizza and blue jeans to gauge how they change over time.
For stability, the best buys have been orange juice, takeout pizza and a movie ticket and gas to get there will cost 7 percent less than it did a month ago.
Egg prices have been the most volatile, and at this point, they are down 14.5 percent in the past month.
Laundry soap's price this month rose for the first time in six months. It costs $2 more, an increase of 13 percent. Also up more than 7 percent were milk and frozen corn. Blue jeans' price tag went up 13.6 percent.
Recent comments
Small price to pay to get rid of Saddam.
Compliments of George W | Oct. 6, 2008 at 3:43 p.m.
Most people have to buy gas twice, in shipping costs of goods we buy...
RE: Matt | Oct. 6, 2008 at 11:51 a.m.
They track it twice because most people pay it twice - once at the...
Anonymous | Oct. 6, 2008 at 11:26 a.m.
- U.S. tops in health care spending 8:50 a.m.
- FBI sending team to Pakistan 8:42 a.m.
- Stocks tumble at open 8:41 a.m.
- MLB meetings: Much talk, little action 8:36 a.m.
- 'Uncharted 2' tops turbulent year 8:32 a.m.
- 911 call came from Woods' house 8:23 a.m.
- Westwood is European Tour's POY 8:20 a.m.
- Powell says Usain Bolt can be beat 8:20 a.m.
- Storm pounds Utah for 2nd day 7:54 a.m.
- Fierce snowstorm heads to Midwest 7:41 a.m.
- Witness: Mitchell stalked victims
- Cougars going back to Vegas
- Utah/BYU rivalry can be more civil
- Y. profs: Beck not all-knowing
- TCU to play Boise in Fiesta Bowl
- Bring the true spirit of Christmas
- Utes excited to go to San Diego
- Winter weather is here to stay
- BYU professor remembered
- TCU's BCS game missing something
- Y. profs: Beck not all-knowing
264 - TCU to play Boise in Fiesta Bowl
203 - Letters: Global warming a lie
168 - Cougars going back to Vegas
147 - Utah/BYU rivalry can be more civil
137 - George lost in rivalry hatefest
119 - Ed Smart 'appalled' at testimony
100 - Harpring's NBA career is over
98 - Utahns want health care reform bills
81 - Utes excited to go to San Diego
79
Amazon.com, Target.com, Sears.com, Walmart.com, Kmart.com and...
I knew something was wrong the moment you mentioned the Peoria North Stake....
No amount of pennance short of the death penalty will ever be enough for you...
Mountain view is not 3-0. They got throttled by Skyview and had a double...
"Natives...worry the noise of offshore development could chase away bowhead...
A boy with a big heart and parents who helped teach him that. Thank you!
I know that I am in the minority but I think we should restore the tax...
Right a shock jock like Beck and a person that holds a PH.D in the felid have...
Food tax is an easy way to increase revenue when it is needed, such as in a...
So much for Al Gore the Nobel Prize Winner and the Global Warming theory. He...
Interesting how the right feels justified in calling names and making...

