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Volume : II, Issue : III, April - 2012 CAUSES AND IMPATCS OF FOOD PRICE INFLATION Abhay B. Tare DOI : 10.9780/22307850, Published By : Laxmi Book Publication Abstract : U.S. food prices rose 4% in 2007 and are expected to gain 3.5% to 4.5% in 2008. Higher farm
commodity prices and energy costs are the leading factors behind higher food prices. Farm commodity
prices have surged because
(1) demand for corn for ethanol is competing with food and feed for acreage;
(2) global food grain and oilseed supplies are low due to poor harvests;
(3) the weak dollar has increased U.S. exports;
(4) rising incomes in large, rapidly emerging economies have changed eating habits; and
(5) input costs have increased. Higher energy costs increase transportation, processing, and retail costs. Keywords : Article : Cite This Article : Abhay B. Tare, (2012). CAUSES AND IMPATCS OF FOOD PRICE INFLATION. Indian Streams Research Journal, Vol. II, Issue. III, DOI : 10.9780/22307850, http://oldisrj.lbp.world/UploadedData/848.pdf References : - Food CPI's for 2007 and 2008 are from the USDA/ERS Food CPI, Prices, and Expenditures Briefing Room,
- U.S. Department of Labor, Bureau of Labor Statistics, Consumer Expenditure Survey.
- USDA/ERS, Rising Food Prices Intensify Food Insecurity in Developing Countries
- USDA/ERS, “Price Spreads from Farm to Consumer,” by Howard Elitzak
- West Texas Intermediate (WTI), a crude oil price traded at Cushing,
- “Food CPI, Prices, and Expenditures Briefing Room,”
- USDA/ERS, Amber Waves, “Corn Prices Near Record High,”
- U.S. Department of Agriculture, “World Agricultural Supply and Demand Estimates,”
- Center for Agriculture and Rural Development, “Changing Diets in China's.
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