
Nebraska floods may lead to an increase in beef price
We pay a lot of attention to food prices. The reality is that food prices are increasing at a relatively steady rate over time. Increases in food prices matter, but they have tracked relatively closely to the overall rate of inflation for the past thirty years as can be seen from the graph below. There is actually much more price variability within years than there is between years. You can see in the second graph that there is considerable seasonal variation in price which r