Recent OECD-FAO Agricultural Outlook reports have focused on high and volatile agricultural commodity prices, stressing those prices would come down as markets respond but would remain on a higher plateau underpinned by continuing strong demand and rising costs for some inputs. As anticipated, prices have started to ease but remain at relatively high levels. Food price inflation at the retail level has fallen significantly from its peak in 2008 and its contribution to overall inflation has moderated. Nevertheless, food price inflation remains high in many developing countries and is still outpacing overall inflation in the majority of countries examined.
Read more in the latest (July) issue of OECD – FAO Agricultural Outlook 2012 – 2021.