Food Inflation? It's Basically Cheaper Than It Has Ever Been In History

Food price inflation is the topic du jour, with a run up in wheat, corn, and soy causing panic amongst those concerned their wages won’t stretch to meet the new costs.

But, actually, food is cheaper than it has ever been, according to a chart from MJ Perry. Well… the key is that as a percentage of disposable income food prices remain ridiculously cheap. Yes, they’ve gone up, and sure wages have gone down, but it’s all about perspective. Food prices aren’t a big crisis, at least in America.

U.S. food costs

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at