Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics

• Do Oil Price Increases Cause Higher Food Prices?

  Staff Working Paper 2013-52 Christiane Baumeister, Lutz Kilian

  U.S. retail food price increases in recent years may seem large in nominal terms, but after adjusting for inflation have been quite modest even after the change in U.S. biofuel policies in 2006. In contrast, increases in the real prices of corn, soybeans, wheat and rice received by U.S. farmers have been more substantial and can be linked in part to increases in the real price of oil.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, International topics JEL Code(s): E, E3, E31, Q, Q1, Q11, Q4, Q42, Q43