Analyzing Factors Affecting U.S. Food Price Inflation
Abstract"Since the summer of 2007, U.S. food price inflation has increased dramatically. Given public anxiety over fast-rising food prices, this study attempts to analyze the effects of market factors-prices of energy and agricultural commodities and exchange rate-on U.S. food prices using a cointegration analysis. Results show that the agricultural commodity price and exchange rate play the key roles in determining the short- and long-run movement of U.S. food prices. It is also found that in recent years, energy price has been a significant factor affecting U.S. food prices in the long run, but has little effect in the short run. This implies the strong linkage between energy and agricultural markets in the long run over the recent years." Copyright (c) 2010 Canadian Agricultural Economics Society.
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Bibliographic InfoArticle provided by Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie in its journal Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie.
Volume (Year): 58 (2010)
Issue (Month): 3 (09)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0008-3976
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Other versions of this item:
- Baek, Jungho & Koo, Won W., 2009. "Analyzing Factors Affecting U.S. Food Price Inflation," Agribusiness & Applied Economics Report 54248, North Dakota State University, Department of Agribusiness and Applied Economics.
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