Macroeconomics Food Prices Up by 13.2 Percent in July For the second straight month, the cost of food in China was up year-on-year by double digits. Following a 11.1 percent increase in June, higher pork, vegetable, cooking oil, and dairy products pushed up food inflation to 13.2 percent, the largest jump since April. By comparison, China’s consumer price index (CPI) according to the National Bureau of Statistics (NBS) rose by just 2.7 percent in July compared to 2.5 percent in June. NBS data show that the average pork retail price was up year-on-year in July by 85.7 percent, while fresh vegetables, cooking oil, and dairy products climbed by 7.9 percent, 6.4 percent, and .9 percent, respectively, from a year ago. The only reprieves...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.