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Lagarde: Food Inflation Receding But Have To Be Attentive

Q: Is the worst of inflation over for food?
  • A: Food prices are hurting the most vulnerable so we pay special attention to it. We have seen food inflation go down but have to be extremely attentive.
  • Multiple factors that apply to food/processed food prices. In 2023 more wage increases contribute to inflation. Through "social contract" these drivers of inflation should not lead to a tit-for-tat. Wish could say it will go down.
  • Observing it has come down. Climate change and the Ukraine war will impact prices going forward and hopefully it will come down.

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