The survey by the Arizona Farm Bureau Federation found the cost of a typical market basket of 16 popular items last quarter was $51.39.
That's up 68 cents from the three months prior -- and nearly $6 more than the same time a year earlier. The organization's Julie Murphree said the findings reflect "what has been going on in 2011, which is this steady increase in food inflation. I do believe it's going to level off a little bit better in 2012 than it did this last year," she said.
If you're planning to have the family over for Thanksgiving, be prepared to spend a bit more this year.
The latest annual survey by the Arizona Farm Bureau finds the cost of a typical Thanksgiving dinner this year will exceed $50. That's up by more than $6 from last year alone. The big jump is in the price of the centerpiece: a 16-pound frozen turkey. The organization's Peggy Jo Goodfellow said demand for the birds is up across the nation. But farmers were conservative in how many turkeys they decided to raise in the hope of boosting prices.
