Regional differences in the dynamics of the food inflation spread

Issue № 2, 2022, article № 11, pages 78-84

Language: Russian

Original language title: РЕГИОНАЛЬНЫЕ РАЗЛИЧИЯ В ДИНАМИКЕ СПРЕДА ПРОДОВОЛЬСТВЕННОЙ ИНФЛЯЦИИ

Keywords: FOOD INFLATION, INFLATION, FOOD INFLATION SPREAD, AGRICULTURAL INDUSTRY

Abstract: The article introduces the concept of food inflation spread, which is equal to the difference between the increase in food prices and inflation. Based on the division of 152 countries into 4 regions (Europe, Asia, America, Africa), the article examines the differences in the values of the average annual spread of food inflation for the period from 2005 to 2020. The article shows that in most Asian, American and African countries, the food inflation spread was positive. In most European countries, the food inflation spread ranged from -0.5 to 0.5 percentage points. In most of the major developed countries of Europe and America, the spread of food inflation is also close to zero. The results show that in more than half of the countries of Asia, Africa and America, the spread of food inflation was above 0.5 percentage points, which over the period from 2005 to 2020 led to an increase in the price of food relative to the general consumer price index by more than 8%.

Authors: Gurov Ilia Nikolaevich