US supermarket retail prices dropped 1.5% from the same quarter in 2006, according to an American Farm Bureau survey of prices in 32 states last month.
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Sixteen basic items cost US$39.91, down 60 cents, with 11 decreases, four increases and one unchanged.
Cheddar cheese decreased the most, 11%, while whole milk, vegetable oil and egg prices also declined. Russet potatoes increased by 11% and other increases included white bread and apples. Diminishing dairy prices reflect lower payments at the farm, and most price hikes are attributable to higher energy costs. American farmers now receive 22% of the average retail food dollar, down a third from the mid-1970s
