USDA EXPECTS SLOWING FOOD INFLATION IN THE US

US Department of Agriculture economists believe food inflation will slow in 2012, according to the agency’s latest price forecasts.

Looking at the big picture for food prices, the USDA expects food consumed at home to increase 4% to 5% this year and climb 3% to 4% in 2012.

Meanwhile, food consumed away from home is expected to show more modest increases, with inflation projected at 3% to 4% in 2011 and 2% to 3% in 2012.
Source: The Packer