| From Post-gazette.com: The U.S. Department of Agriculture last week forecast food prices will only rise 0.5 percent to 1.5 percent this year, less than the 1.8 percent increases in 2008 and 2009 and the lowest rate of food inflation since 1992. Enjoy it while you can, commodities followers say.
They predict a variety of short-term factors -- ranging from the current drought affecting Russia's massive wheat crop and floods in Pakistan -- as well as growing global aspirations for the high-calorie diet American consumers take for granted will translate into higher prices for meat, wheat, corn and other food items in the years ahead...........................................Full Article: Source |