Falling food prices ease upward pressure on global inflation (Wall Street Journal) 

Wall Street Journal published an article stating that falling prices for commodities such as wheat or corn are set to slow consumer food price increases, easing pressure on a major driver of global inflation. But economists warn it is too soon to declare victory. Markets, Trade, and Institutions division director Rob Vos said, “We’ll see certainly in the short run adjustments in prices. I would be very cautious in making big projections that things are stabilizing and getting better because we still are in a pretty difficult and tight situation.” Vos added that since commodities are priced in U.S. dollars, a rise in the value of the dollar tends to push down the price of commodities, to offset the more expensive currency. At the same time, central bank interest-rate increases to curb inflation have raised the risk of a global recession.