The USDA released a food price report.
Consumer food prices are expected to continue rising at about 3% a year for the next decade, the Agriculture Department report said. Ralph Parlett of the department’s Economic Research Service, one of the authors, said retail food prices have increased at an annual rate of about 3% for the last five years. The increase is expected to be about that in 1987, in the range of 2% to 4%.
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