Changes

In economics, agflation is a term believed to have originated during the worldwide Food Crisis of 2008. The term is a portmanteau word formed by combining the words "agriculture" and "inflation," and describes a general rise in prices that is caused by rising production costs for agricultural goods. Agflation is a type of cost-push inflation, or increase in the price level that is caused by an exogenous supply shock (sudden or dramatic reduction in the production capacity of producers or firms).

In economics, agflation is a term believed to have originated during the worldwide Food Crisis of 2008. The term is a portmanteau word formed by combining the words "agriculture" and "inflation," and describes a general rise in prices that is caused by rising production costs for agricultural goods. Agflation is a type of cost-push inflation, or increase in the price level that is caused by an exogenous supply shock (sudden or dramatic reduction in the production capacity of producers or firms).