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Inflation: A Food and Agricultural Perspective

Author

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  • Prentice, Paul T.
  • Schertz, Lyle P.

Abstract

Inflation, a rise in the general price level, affects agriculture in four basic ways. It increases prices of farm products and inputs, encourages farmers to purchase more capital inputs, increases the wealth of those who own the land, and strengthens the relative economic position of high-income people, farm and nonfarm, in buying land. Since the late sixties, changes in prices paid for farm inputs and changes in prices received for farm products have closely corresponded to changes in the general price level. Under inflationary conditions, gains by some often depend on losses by others. This report provides a basis for understanding the causes and effects of inflation as related to agriculture and the conflicting objectives of aiding clientele groups and stopping inflation.

Suggested Citation

  • Prentice, Paul T. & Schertz, Lyle P., 1981. "Inflation: A Food and Agricultural Perspective," Agricultural Economic Reports 307898, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerser:307898
    DOI: 10.22004/ag.econ.307898
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    Cited by:

    1. Harrington, David H. & Reimund, Donn A. & Baum, Kenneth H. & Peterson, R. Neal, 1983. "U.S. Farming in the Early 1980's: Production and Financial Structure," Agricultural Economic Reports 307951, United States Department of Agriculture, Economic Research Service.
    2. Christos P. Pappas & Christos T. Papadas, 2015. "Farm Production Costs, Producer Prices and Retail Food Prices in Greece: A Cointegration Analysis," Bulletin of Political Economy, Bulletin of Political Economy, vol. 9(2), pages 127-143, December.
    3. Devadoss, S., 1985. "The impacts of monetary policies on US agriculture," ISU General Staff Papers 198501010800008837, Iowa State University, Department of Economics.

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