Politeía Digest

Quis custodiet ipsos custodes?

Malthusian mouthfuls

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The price of food since 1980

FOOD prices have risen sharply this year according to The Economist’s food-price index. A drought in Russia, prompting an export ban on wheat, and an unexpectedly poor corn harvest in America both took their toll. And the price of agricultural commodities could continue on their upward path. The world should prepare for  “harder times ahead”  according to the UN’s Food and Agriculture Organisation unless production of food crops increases significantly next year. China’s government is even considering price controls on food (and energy) to tame inflation and head-off popular discontent. Yet as our index shows, in real terms food is still cheaper than it was 30 years ago.

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Written by Theophyle

November 18, 2010 at 9:15 am

One Response

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  1. 1. The price index is for where? US? UK? World? If for more than one country, how is the averaging made, who validated the method, and where is the method described?

    2. The price index is for wholesale or for retail? People buy retail, you know.

    3. The price index is for what, exactly? Beans and rice? The average US basket? Does it count for cultural and societal changes in whatever one is eating?

    Like the McDonald’s index, The Economist charts are only bullshit.

    Béranger

    November 24, 2010 at 11:52 am


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