The escalation in world food prices and its implications for the Caribbean

During the last years, the steep increase in food prices has been one of
the most distinctive characteristics of the world economy. Many factors
have been hypothesized as the main drivers of this phenomenon, both
structural and temporary. International food inflation has had perceptible
effects on food importing countries and regions. As such, the Caribbean has
suffered the impact mainly through four channels, namely, domestic
inflation, imports bill and trade balance, poverty and indigence rates, and
equity. This study addresses empirically these issues from a regional
perspective.