Determinants of Food Inflation: Recent Evidence

Abstract

The objective of this work is to analyze food inflation specifically. The research is descriptive and uses descriptive statistics and an econometric model. The data used is monthly and comes from the Food Price Index published by the World Food Organization (FAO) for the period 1990-2023 and the World Bank for the period 2000-2023. The hypothesis proposed is that food inflation shows an accentuated pattern due to phenomena such as the interruption in the international supply chain derived from the Covid 19 epidemic and the Russia-Ukraine war of 2022. The results show a growth pattern in the prices observed in different countries and constitutes one of the greatest concerns for the majority of the population. The conclusion is that governments must act by boosting food production as much as possible, in addition to other contingent measures.