USDA says food inflation ‘to accelerate” into 2011
By Matt Andrejczak
Oct. 25, 2010
Food inflation will “accelerate” during the final months of 2010 and into the first six months of 2011, the U.S. Agriculture Department said Monday. “Although inflation has been relatively weak for most of 2009 and 2010, higher food commodity and energy prices are now exerting pressure on wholesale and retail food prices,” USDA food economist Ephraim Leibtag said. In its monthly update, the USDA left its 2010 forecast unchanged for food prices to increase 0.5% to 1.5% — the lowest rate of annual inflation in 18 years.