Saturday, February 19, 2011
Food Prices and Inflation
Lots of recent discussion of the rise in food prices, including whether it had an impact in the Mid East uprisings. But the graph in this post, hat tip Ezra Klein, shows the price trends for "foodstuffs" and finished consumer foods. The former (wheat, rice, corn, etc.) are much more volatile than the later, mostly because there's pennies worth of wheat in a loaf of bread, etc. etc.