Price Dynamics Behind Consumer Food Purchases

The heightened commodity price volatility of 2008 and the subsequent acceleration in U.S. food price inflation raised concerns and generated many questions about farm and food price movements by members of Congress and their constituents. This book responds to those concerns by addressing the nature and measurement of retail food price inflation. It measures how aggregate food price inflation is measured and compares recent price inflation for both at-home (i.e., retail) purchases and away-from-home consumption, as well as by major food groups. In addition, the major economic concepts underlying consumer food behaviour are reviewed. The nature of the statistical indicators used to measure consumer food prices and expenditures are also described. Moreover, this book provides information on recent history and projections for U.S. food expenditure shares relative to total household budget, with comparisons across income quintiles, as well internationally. This book consists of public documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.