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US food prices will rise by just two percent during 2009, according to a Reuters report quoting the US Department of Agriculture’s Ephraim Leibtag – the first drop in the year-on-year rate since 1967.
Leibtag, the USDA’s food price forecaster was quoted as saying: “It's going to be hard to see more than two percent in 2009.”
Nevertheless, he forecast that food prices would rise moderately after the first few months of 2010.
The original Reuters report can be found online here .
