Hoosiers are paying 14 percent less for the same groceries purchased this time last year, according to the latest survey from the Indiana Farm Bureau.
The survey adds up the average cost of a “market basket” of 16 items including milk, eggs, meat and produce.
The survey found that this spring, the basket costs $45.99 in Indiana right now. That same basket of items cost $52.61 last year.
“It’s good news and bad news for farmers,” Indiana Farm Bureau spokesperson Kathleen Dutro says. “Farmers are consumers too, so they like getting their eggs at a dollar less than they were last year, too. But of course it does indeed signal that a lot of people aren’t getting very good prices for their commodities.”
The price for cereal and eggs dropped by more than a dollar each. Only two of the 16 items surveyed increased in price: sliced deli ham and bagged salad mix.
Dutro says many of the items in the survey reached historically high prices in recent years, so it’s not that surprising to see the prices decreasing now. That’s especially true for eggs; a shortage last year caused by an avian flu outbreak caused an egg shortage drastically increasing prices.
Dutro says it’s difficult to predict grocery prices in the next few years, but says the next IFB survey in the fall will help indicate whether or not it’s a pattern.
“I’m comfortable in saying it’s a real trend, so I am curious to see if that trend continues next fall,” Dutro says.
Nationally, the price for groceries decreased by about 6 percent over the past year.