Meat, Egg Prices Rising; Overall Food Inflation Seen Steady
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U.S. consumers will pay more for meat and eggs this year than forecast earlier, while overall food inflation will hold steady at the 3 percent to 4 percent projected a month ago, the Department of Agriculture said.
The USDA left its 2011 food-price forecast unchanged for the seventh straight month, at a rate that would be the highest since 2008. The department kept its estimate for the increase in retail food costs for 2012 steady at 2.5 percent to 3.5 percent, in a report released today on its website.