Inflation and Commodity Prices

Inflation rates have reached relatively high levels recently, raising questions about inflation’s impacts on corn and soybean prices. Overall, there is a weak positive correlation between inflation and commodity prices. We present a history of inflation rates based on year-over-year percent change in consumer price index, corn and soybean prices, and then discuss linkages between inflation rates and commodity prices.
Schnitkey, G., K. Swanson, N. Paulson, C. Zulauf, J. Coppess, J. Baltz "Inflation and Commodity Prices." farmdoc daily (12):93, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, June 21, 2022.
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