AGFLATION.

AGFLATION. Annalisa has expressed worry about rising world food prices. There is a name for it now: “agflation” (modeled on the term “stagflation”). Kids, think in terms of supply and demand curves. You will see articles theorizing that the increased demand for ethanol as a fuel has shifted the demand curve up and to the right. I have seen another explanation that is bittersweet: “This is what happens when a lot of people start eating two meals a day rather than one.”