Biden Agriculture Chief Predicts Moderation in Food Inflation
- Vilsack says supply and demand will begin to even out
- Secretary expects action soon on agricultural competition
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Agriculture Secretary Tom Vilsack predicted the jump in U.S. food prices in June will quickly moderate despite rising concern about inflationary risks in the economy.
“There are certain selective items in the grocery store folks may see for a period of time increased costs,” Vilsack said Friday in an interview on Bloomberg Television’s “Balance of Power” with David Westin. “We think this will even out as we begin to recover, as we begin to get the supply and demand in better balance.”