Bulletin – March 2011 Developments in Global Food Prices Abstract
Global food prices have increased significantly since the early 2000s, reversing
the long-run trend decline in relative food prices over previous decades. A
range of supply disruptions in key
food-producing countries have contributed to higher food prices, along with strong
demand from developing countries as per capita incomes rise and consumption
patterns change. Rising commodity prices are leading to higher headline consumer
price inflation in many countries though, at this stage, core measures of inflation
remain relatively contained.