Macro-Economic Policy Reactions to Soaring Food Prices in Mediterranean Countries, Russia, the CIS and the GCC

21 Pages Posted: 1 Jun 2011 Last revised: 26 Jun 2016

See all articles by Marga Peeters

Marga Peeters

De Nederlandsche Bank

Kiril Strahilov

European Union - European Commission

Date Written: August 1, 2008

Abstract

High prices of basic food pushed up total consumer price inflation in 2007 worldwide, not least in the EU neighbour countries. The European Neighbour Policy Mediterranean countries, Commonwealth of Independent States (CIS) and the Gulf Cooperation Council were almost all affected by the global food price shocks. This paper analyses the price developments and compares national macro-economic policies in response to the soaring prices across the ENP-countries, the other Barcelona countries, Russia and the GCC countries and the euro area. The focus is mainly on ag-flation.

Keywords: Inflation, ENP-countries, macro-economic policies

JEL Classification: E30, E20

Suggested Citation

Peeters, Marga and Strahilov, Kiril, Macro-Economic Policy Reactions to Soaring Food Prices in Mediterranean Countries, Russia, the CIS and the GCC (August 1, 2008). Available at SSRN: https://ssrn.com/abstract=1354702 or http://dx.doi.org/10.2139/ssrn.1354702

Marga Peeters (Contact Author)

De Nederlandsche Bank ( email )

PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB
Netherlands

Kiril Strahilov

European Union - European Commission ( email )

Rue de la Loi 200
Brussels, B-1049
Belgium

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