Food Inflation To Slow

LONDON— Food price inflation may slow in the next year, but, according to USDA it is likely to remain above projected long-term levels, Reuters reported. USDA chief economist Joseph Glauber told Reuters: “Food price inflation in the U.S. is currently running at an annual rate of about 5 to 6 percent and may drop to 4 to 5 percent for next year.” The USDA forecasted that “food price inflation will return long-term to around 2 to 3 percent.”