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Javier Blas

Food Prices Are Coming Down — Just Not in Time for Thanksgiving

Commodities such as fish, legumes, meat and vegetables are getting less expensive. It’s a sign that global inflation has peaked.

Coming soon.

Coming soon.

Photographer: Spencer Platt/Getty Images North America

The headlines are still screaming “food crisis,” and policymakers remain worried. Sure enough, the prices of a few staples, notably corn and wheat, are still high. But dig a bit deeper, and the scare is all but over. From salmon and chickpeas to lamb and tomatoes, food prices are coming down. Deflation is now on the menu.

It’s a sign that global inflation has peaked.