Charts: Food Prices, Commodity Prices
Feb. 24, 2011
The United States Department of Agriculture has published this chart of commodity prices, including oil. Food prices have risen, especially after 2006, but not anywhere near as rapidly as general commodity prices and the price of oil.
The move in oil began in 1999, during the boom phase of the economy. The recession of 2001 did not reverse the rise of prices.
Oil's price tumbled sharply in the second half of 2008: from $147 per barrel in July to $33 in December. Since then, it has risen. Food prices also fell sharply. Food prices have risen steadily since late 2008.
