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In [[economics]], agflation is a term believed to have originated during the [[world]]wide Food Crisis of 2008. The term is a portmanteau word formed by combining the words "[[agriculture]]" and "[[inflation]]," and describes a general rise in [[price]]s 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 [[world]]wide Food Crisis of 2008. The term is a portmanteau word formed by combining the words "[[agriculture]]" and "[[inflation]]," and describes a general rise in [[price]]s 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).<ref>http://www.economist.com/finance/displaystory.cfm?story_id=9707029</ref>

 

[[Category:Economics]]

[[Category:Economics]]