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What is Driving Food Prices? Corinne Alexander cealexan@purdue.edu Purdue University August 16, 2013

What is Driving Food Prices? Corinne Alexander cealexan@purdue.edu Purdue University August 16, 2013. Source: USDA Economic Research Service http:// ers.usda.gov/data-products/food-price-outlook.aspx . 2014 US Food Price Inflation. ERS predicts (July 25, 2013)

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What is Driving Food Prices? Corinne Alexander cealexan@purdue.edu Purdue University August 16, 2013

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  1. What is Driving Food Prices?Corinne Alexander cealexan@purdue.eduPurdue UniversityAugust 16, 2013 Department of Agricultural Economics Purdue University

  2. Department of Agricultural Economics Purdue University

  3. Department of Agricultural Economics Purdue University

  4. Source: USDA Economic Research Service http://ers.usda.gov/data-products/food-price-outlook.aspx Department of Agricultural Economics Purdue University

  5. Department of Agricultural Economics Purdue University

  6. Department of Agricultural Economics Purdue University

  7. 2014 US Food Price Inflation • ERS predicts (July 25, 2013) • 1.5 to 2.5% for 2013 • 2.5 to 3.5% for 2014 • For 2013, year-to-date is about 1.5% • Expect 2014 to have low/normal food price inflation • Retailers can rebuild profit margins • Big drivers are: • Recovery in livestock sector • Consumer incomes Department of Agricultural Economics Purdue University

  8. Department of Agricultural Economics Purdue University

  9. Department of Agricultural Economics Purdue University

  10. Food at home 2011: $654.4 Billion Food away 2011: $588.9 Billion Department of Agricultural Economics Purdue University

  11. Questions?

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