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Food Inflation at Home May Have Peaked, USDA’s Glauber Says

U.S. inflation for food at home may have peaked after crop prices fell for the first time in three years, the U.S. Department of Agriculture’s top economist said.

The Standard & Poor’s GSCI Agriculture Total Return Index of eight commodities dropped 16 percent last year, the biggest decline since 2008. Cocoa and sugar led the retreat for food items. Coffee, soybeans and wheat also declined.