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WASHINGTON — The Agriculture Department, throwing cold water on speculation that retail food prices are poised to surge, said Wednesday that it expects the Consumer Price Index for food to climb between 0.5 percent and 1.5 percent this year, which would be the slowest annual food inflation rate since 1992.
The USDA cut its month- old forecast by 1 percentage point from the 1.5 percent-to- 2.5 percent range it forecast in late July.
