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Food prices stay high

This article was originally published in Foodnews

US FOOD prices are still expected to see their highest increase in two decades, despite the recent slide in oil and grain prices. In its monthly report, the USDA did not change its forecast for food prices, which are expected to soar 5.5% in 2008 and 4.5% next year. For this year alone, meats, poultry and fish are forecast to rise 3.5%, eggs by 14% and dairy products by 8.5%. In light of fears over a global recession, commodity prices plunged, including wheat, soybeans, corn and oil. This decline, however, has failed to show up on grocery shelves.


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