After rising in 1996 at the fastest rate in six years, food prices likely will moderate this year, according to an Agriculture Department forecast.
Food prices are expected to rise just 2.1 percent this year, down from 3.3 percent last year. The 1996 increase was the steepest since prices rose 5.8 percent in 1990 when the economy was entering the last recession.
The government’s Consumer Price Index for all goods and services rose 3 percent in 1996.
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