date:Apr 15, 2014
Food price inflation has generally been falling over recent decades, according to a new report from the USDA Economic Research Service (ERS).
Recent retail food price increases of 6.1 per cent in 2008 and 4.6 per cent in 2011 put food prices in headlines and raised concerns about food price inflation. However, taking the long-term view, food price inflation has been falling, on average, over the past several decades, according to Richard Volpe, writing in Amber Waves from the USDA ERS.
Since 2