Background/problemFood security has continuously been one of the most criticalissues. Covid19 indirectly causes broken chains of international trade, furtherexacerbates and highlights the weakness in food security in different countries.Objective/aim1. Compare food efficiency and food security for different countries.2. Find out what impact has food had on global inflation due to Covid19.Method/designThe paper summarizes and analyzes Global food security indexes of variouscountries prior to Covid19 to identify the main weaknesses of the food securitysystem. DEA is also conducted to assess the use of countries’ resources andefficiency rates. Finally, the paper analyzes the US Consumer Price Index to find outchanges in trends of consumer expenditure behaviors since Covid19 to distinguishfood inflation rates in comparison to other consumable categories. US Covidconsumption baskets are also compared with 16 other countries to betterunderstand inflation and consumer behaviors of food consumptions worldwide.Results/findingsExpenditure in food security is more efficient in low-incomecountries. Consumers spend relatively more on food consumptions compared toother categories. Inflation is most significant in food and energy prices.Conclusion/discussionMany countries still have lots of potential for growingefficiency to improve food security. While the Inflation rate has increased at asignificantly fast pace worldwide since covid19, it is mainly due to food and energyprices. Perhaps, many other consumer categories are in fact experiencing significantdeflation. This can lead to further inequalities between industries, countries, andeventually households. KeywordsFood insecurity, Inflation, DEA, Global food securityindexes, inequalities, food resources
Global Food Security Discussion
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