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BUSINESS Friday 26 august 2022
A13

Food commodity prices slim down over the summer HEALTH

DOCTOR ON DUTY
By DAMIAN J. TROISE Oranjestad
AP Business Writer
The price of wheat, corn Hospital 7:00 pm / 10:00pm
and other commodities Tel. 527 4000
that make up the basis for San Nicolas
much of the world's food Imsan 24 hours
supply fell sharply over the Tel.524 8833
summer. Women in Difficulties
It's a welcome signal for PHARMACY ON DUTY
consumers dealing with Oranjestad:
high grocery bills and in- Dakota tel. 587 9011
vestors hoping to see infla- San Nicolas:
tion loosen its grip on the san Nicolas tel. 584 5794
broader economy. Wheat Women in Difficulties
prices are down roughly OTHER
40% and corn prices have Dental Clinic 587 9850
slipped about 25% since Blood Bank Aruba 587 0002
Urgent Care 586 0448
the spring. Walk-In Doctor’s Clinic
"It should help, it's just a +297 588 0539
question of how long that is Women in Difficulties
sustainable," said Tom Mar- EMERGENCY
tin, senior portfolio man-
ager with Globalt Invest- Police 100
Oranjestad
527 3140
ments. "As we slow down, Noord 527 3200
and the economy seems Sta. Cruz 527 2900
generally to be slower, you San Nicolas 584 5000
get less inflationary pres- Police Tipline 11141
sures." Ambulancia 911
Surging food and energy Fire Dept. 115
582 2219
Red Cross
prices have fueled the Fields of corn wait for harvest on a farm Friday, Oct. 8, 2021, near Garretson, S.D.
hottest inflation in four de- Associated Press TAXI SERVICES
cades this year. Steady Taxi Tas 587 5900
demand combined with Prof. Taxi 588 0035
constricted supplies start- but slowing inflation or de- serve will ease up on its ag- ing to cool.q Taxi D.T.S. 587 2300
ed inflation on its upward flation could lift profits to gressive interest rate hikes. Taxi Serv. Aruba 583 3232
A1 Taxi Serv.
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path. Russia's invasion of the higher end of the com- The U.S. economy shrank Women in Difficulties
Ukraine in February wors- pany's target. during the first half of 2022, TRAVEL INFO
ened things by choking off "These are volatile times," but consumer spending re-
production and exports of he told investors in a con- mains solid and unemploy- Aruba Airport 524 2424
wheat and other crops, ference call, following the ment is at a record low. American Airlines 582 2700
along with oil and natural company's most recent fi- The Fed has signaled that it Avianca 588 0059
gas. nancial results. "So we can't intends to continue raising Jet Blue 588 2244
582 7896
Surinam
Now prices are falling as tell you exactly where we interest rates until it is sure
supply and demand start will land." that inflation is starting to Women in Difficulties
to balance out amid the Investors are closely watch- cool off. Wall Street is hop- AID FOUNDATIONS
global economic slow- ing falling commodity pric- ing that a sustained drop FAVI- Visually Impaired
down. Ukraine and Russia es as they try and gauge in commodity prices, from Tel. 582 5051
have reached a deal on inflation's path forward and energy to food, will result in Alcoholics Anonymous
grain exports, helping to whether the Federal Re- inflation peaking and start- Tel. 736 2952
further ease global supply Narcotics Anonymous
shortages. Ukraine exports Tel. 583 8989
roughly 10% of the world's Fundacion Contra Violencia
wheat and corn. Relacional Tel. 583 5400
The U.S. Department of Ag- Centre for Diabetes
Tel. 524 8888
riculture forecasts higher Child Abuse Prevention
wheat production this year Tel. 582 4433
and the potential for a re- Quota Club Tel. 525 2672
cord soybean harvest. Women in Difficulties
Falling commodity prices General Info
could also help major food Phone Directory Tel. 118
producers, which have
been dealing with higher
costs to make things like
cereal and other pack-
aged foods. Both Conagra
and Mondelez have seen
profit margins fall over the
last several quarters.
Conagra CEO Sean Con-
nolly said another cycle
of extreme inflation would
likely push down margins, facebook.com/arubatoday/