Food prices and inflation

The L.A. Times says Latin American inflation is a problem while Reuters says it seems not to be a problem.  No one can really seem to agree whether demand for commodities, which is an important element of current inflationary pressure, is leveling out or not, or how effectively Latin American governments can respond.

A recent IDB report on food prices has an interesting table on the prices of some key agricultural goods.

So there is definitely an uptick, but there is plenty of disagreement about what direction those prices will continue going.  The IDB's take is that countries with more flexible exchange rates won't see prices increase as much.