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Sunday, March 27, 2011 7:16:50 PM
Do food prices and oil prices move in unison?
This chart shows that, during the past decade, they usually do:
Of course, this chart is somewhat contrived insofar as the values are not normalized to a common base, but I think the basic relationship is valid.
Source: http://www.theoildrum.com/files/world-food-index-vs-brent-oil-price.png (Thanks to 'Jacob Snyder' on SI for this find.)
This chart shows that, during the past decade, they usually do:
Of course, this chart is somewhat contrived insofar as the values are not normalized to a common base, but I think the basic relationship is valid.
Source: http://www.theoildrum.com/files/world-food-index-vs-brent-oil-price.png (Thanks to 'Jacob Snyder' on SI for this find.)
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