Retail food prices have been going through a deflationary period for the last year or so, but industry analysts say that trend has reversed. But that doesn’t mean there will be a sharp uptick in prices, including those in the dairy case, in the immediate future. Experts predict about a 1 percent inflation rate for 2010.

However, if the world economy grows as anticipated, those same experts believe that food prices will return to the highs of 2008 over the next decade. That’s because India and China are still experiencing an increase in the middle class, which grows demand for better nutrition and food products.

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