date:Aug 10, 2012
n corn prices for packaged and processed foods (cereal, corn flour, etc.) will likely take 10-12 months to move through to retail food prices.
The U.S.D.A. has a formula for predicting changes in the rate of inflation caused by gains in prices at the commodity level: if the farm price of corn rises 50%, retail food prices rise by 0.5% to 1% as measured by the Consumer Price Index (C.P.I.). The price of September corn futures from mid-June until early August advanced 55%, meeting the U.S.D.A.s cr