Price elasticity | TableDebates

Price elasticity refers to how much the demand for a good is affected by a change in its price. A good is said to be price inelastic if a change in price means that there is little change in demand. An example might be medication or addictive substances, like tobacco. A good is said to be price elastic if a change in price greatly changes the demand for the good.

The cover of the Climate, Fossil Fuels and UK Food Prices report by The Energy & Climate Intelligence Unit. Cover shows a photo of a trolley in a supermarket isle

Climate, Fossil Fuels and UK Food Prices

This report explores the relationship between food price inflation, energy prices and climate driven extreme weather events. The authors find that year-on-year extreme weather is exacerbating food price inflation, offsetting the dampening effect of falling energy prices in 2023 in the UK.

A market stall with apples, pears, oranges and pineapples. Photo by Rajiv Perera via Unsplash

Journal articles

Higher food prices can reduce poverty and stimulate growth in food production

This paper explores the impact of recent spikes in food prices on poverty in lower-middle income countries (LMICs). It is often claimed that food price increases negatively affect the poor because they already spend a higher proportion of their total income on food. However, this paper takes into account the stimulation of great food production from higher prices and the effect this has on poverty.