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Cheaper food and oil a boon for Asian consumers

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An Indian labourer carries a sack of vegetables on his head at a wholesale market in Kolkata on September 14, 2011Economists expect the drop in global food prices to help keep inflation low across emerging Asia over the next year, benefiting consumers and allowing central banks to keep monetary policy loose.

The International Monetary Fund estimates that global commodity prices are 8.3 per cent lower than at the start of the year. This can have some complicated effects, with some winners and losers within the same country.

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