Sept 28 Food Price Inflation (cont)

Sept 28 Food Price - Agricultural Economics Food Price Inflation and Analysis Food Price Inflation and Analysis Food Price Trends/Analysis Since

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Unformatted text preview: Agricultural Economics Food Price Inflation and Analysis Food Price Inflation and Analysis 9/28/2010 9/28/2010 Food Price Trends/Analysis Since 2008 Next Generation Biofuels Today’s Energy Policy Debate and it’s Implications on Agriculture: Chapters 1-3 of The Economics of Food Next-Generation Biofuels: Challenges and Implications for Agriculture, June 2010, www.ers.usda.gov/AmberWaves/June10/Features/NGBiofuels.htm Exam I Review Journal Entries Due Today 1 2 3 4 5 6 7 8 1 9 9 1 9 9 1 1 9 9 2 1 9 9 3 1 9 9 4 1 9 9 5 1 9 9 6 1 9 9 7 1 9 9 8 1 9 9 9 2 2 1 2 2 2 3 2 4 2 5 2 6 2 7 2 8 Annual Percenage Change Source: Bureau of Labor Statistics Food Price Inflation 1990-2008-1 1 2 3 4 5 6 7 8 1 9 9 1 9 9 1 1 9 9 2 1 9 9 3 1 9 9 4 1 9 9 5 1 9 9 6 1 9 9 7 1 9 9 8 1 9 9 9 2 2 1 2 2 2 3 2 4 2 5 2 6 2 7 2 8 2 9 2 1 Annual Percenage Change Source: Bureau of Labor Statistics What Has Happened to Food Price Inflation Since 2008? What Caused This Dramatic Reversal? Selected Factors Impacting Food Prices: 2007-2009 2007-2008 2008-2009 Biofuel Production (Corn Use) World Crop Supplies Consumer Incomes Value of the U.S. Dollar Ag Commodity Prices Energy/Transp. Costs Speculation in Ag/Food USDA’s Food Price Outlook for 2010 “ In 2010, the Consumer Price Index (CPI) for all food is projected to increase 0.5 to 1.5 percent—the lowest annual food inflation rate since 1992. Food-at-home (grocery store) prices are also forecast to increase 0.5 to 1.5 percent, while food-away-from-home (restaurant) prices are forecast to increase 1 to 2 percent. Although global economies have recovered somewhat from the 2008-09 recession, world economic activity remains below pre-recession levels, resulting in overall food price inflation in 2010 remaining below historical averages. price inflation in 2010 remaining below historical averages....
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This note was uploaded on 01/13/2011 for the course AEC aec 305 taught by Professor Dr.williamm.snell during the Spring '10 term at Kentucky.

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Sept 28 Food Price - Agricultural Economics Food Price Inflation and Analysis Food Price Inflation and Analysis Food Price Trends/Analysis Since

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