Food prices refer to the cost consumers pay for various food items. They are influenced by factors such as supply and demand dynamics, production costs, transportation costs, and government policies.
Related terms
Inflation: Inflation is a general increase in prices over time. When there is inflation in an economy, it affects not only food prices but also other goods and services.
Subsidies: Subsidies are financial incentives provided by governments to support certain industries or activities. In agriculture, subsidies can affect food prices by reducing production costs for farmers.
Global Trade: Global trade refers to the exchange of goods and services between countries. It can impact food prices by affecting the availability of certain products and influencing transportation costs.