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USDA sees food-price increases abating in 2012

from Dow Jones Newswires via Chicago Tribune

The U.S. government left its food price inflation forecast unchanged in a monthly report Friday, projecting that a sharp climb in prices will abate in 2012. The price for all food in 2011 is expected to be up between 3.5 percent and 4.5 percent, the U.S. Department of Agriculture said, followed by an increase of 2.5 percent to 3.5 percent in 2012. Both projections, along with all of the various food categories in the report, were unchanged from a month ago. more

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