Rising Food Prices – a Driving Force Behind Inflation?

Abstract

Global food prices have risen sharply since the beginning of 2007. In this article, we look at the factors behind the rise in food prices, both globally and in Norway. The increase in food prices in Norway, as measured in the consumer price index, has been less pronounced than in other European countries, primarily due to Norway’s agricultural policy. Looking ahead, there is reason to believe that agricultural policy, import restrictions and other domestic conditions will have a greater impact on food prices in Norway than global conditions.