Food inflation relief is within sight as crops and crude pull back (Bloomberg) 

Bloomberg published an article stating that runaway food inflation may be tamed soon — at least temporarily — as farm commodities tumble after a surge that pushed up prices of everything from bread to chicken wings. Four months after Russia’s invasion of Ukraine upended trade flows and sent futures soaring, fear of grain shortages is giving way to optimism that key producers will reap harvests large enough to help replenish war-pinched reserves. Along with easing concerns about dwindling grain and oilseed reserves, worries that an economic slump could slash demand also knocked soaring crop futures down from recent highs. While such changes can take time to reach grocery shelves, chicken and beef prices are cooling a bit. Fuel pump prices also will play a big part in determining the course of food inflation for the remainder of this year. Senior research fellow Joseph Glauber said that supermarket bills are expected to “moderate over the next six months, particularly if energy prices fall.” Republished in Yahoo Finance. Beam Start, Flipboard, Borsen (Denmark).