Grocery Manufacturers Have Some Explaining To Do

I sincerely hope Grocery Manufacturers Association is getting interest on their money they have invested with large PR firms to create the Food vs. Fuel red herring that continues to blame ethanol for higher food prices.

Truth is nationwide, food prices continue to trend downward. Retail food prices at the supermarket decreased slightly for the third consecutive quarter, according to the latest American Farm Bureau Federation Market-Basket Survey. The informal survey shows the total cost of 16 food items that can be used to prepare a meal was $46.29, down about 2 percent or $1.12 from the first quarter of 2009. Of the 16 items surveyed, 10 decreased, five increased and one remained the same in average price compared to the prior quarter.

Overall, the average price for the market-basket of foods declined $3.10 or about 6 percent over a year’s time. Retail egg prices dropped 26 percent, milk decreased 22 percent, chicken declined 19 percent and bacon was 11 percent lower compared to a year ago.

Funny, but oil prices are down too.  Maybe sun spots are causing these imaginary higher food prices? I guess that asking for a public apology from GMA would be too much? How about a compromise and put a sock in it!