Food prices are falling!
While it may not be much comfort to those struggling with high food and petrol prices, these graphics show that when a long-term, inflation adjusted view is taken, the recent price increases are but a minor blip on a long downward trend.
As the graphic shows, the real price of eggs over the last 100+ years has fallen over 80%. It might be worth asking your students why eggs (perhaps more than other food items) have fallen so much - I imagine it is to do with the introduction of battery farming.
More important perhaps is the second graphic which shows how many hours of work are needed to purchase a basket of goods and services. So next time you grumble about the price of food and / or petrol, imagine what it must have been like for your great-grandparents!
blog comments powered by Disqus
AS & A2 Economics Revision / Exam Coaching Workshops Coming Up:
Monday 11 March 2013 - Portsmouth (Vue, Gunwharf Quays)
Wednesday 13 March 2013 - Fulham (Vue, Fulham Broadway)
Thursday 14 March 2013 - Stratford City (Vue, Westfield)
Friday 15 March 2013 - Bristol (Vue, Cribbs Causeway)
Monday 18 March 2013 - Birmingham (Vue, Star City)
Tuesday 19 March 2013 - Manchester (Vue, Salford Quays)
Thursday 21 March 2013 - Newcastle (Odeon, Metro Centre)
Friday 22 March 2013 - Leeds (Vue, The Light)
Monday 22 April 2013 - Stratford City (Vue, Westfield)
Join over 10,000 Economics teachers who receive our regular Economics Teacher Resource Newsletter:
