Food Security rEPLY TO NY PEER
Background/problemFood security has continuously been one of the most critical
issues. Covid19 indirectly causes broken chains of international trade, further
exacerbates and highlights the weakness in food security in different countries.
1. Compare food efficiency and food security for different countries.
2. Find out what impact has food had on global inflation due to Covid19.
The paper summarizes and analyzes Global food security indexes of various
countries prior to Covid19 to identify the main weaknesses of the food security
system. DEA is also conducted to assess the use of countries’ resources and
efficiency rates. Finally, the paper analyzes the US Consumer Price Index to find out
changes in trends of consumer expenditure behaviors since Covid19 to distinguish
food inflation rates in comparison to other consumable categories. US Covid
consumption baskets are also compared with 16 other countries to better
understand inflation and consumer behaviors of food consumptions worldwide.
Results/findingsExpenditure in food security is more efficient in low-income
countries. Consumers spend relatively more on food consumptions compared to
other categories. Inflation is most significant in food and energy prices.
Conclusion/discussionMany countries still have lots of potential for growing
efficiency to improve food security. While the Inflation rate has increased at a
significantly fast pace worldwide since covid19, it is mainly due to food and energy
prices. Perhaps, many other consumer categories are in fact experiencing significant
deflation. This can lead to further inequalities between industries, countries, and
eventually households. KeywordsFood insecurity, Inflation, DEA, Global food security
indexes, inequalities, food resources