Sustainable Development Goals

Indicator 2.c.1 - Indicator of (food) price anomalies

The proposed indicator of food price anomalies measures the number of "Price Anomalies" that occur on a given food commodity price series over a given period of time. This indicator will measure progress towards SDG Target 2.c.

Target 2.c

Adopt measures to ensure the proper functioning of food commodity markets and their derivatives and facilitate timely access to market information, including on food reserves, in order to help limit extreme food price volatility.

Indicator of food price anomalies

 

Impact

Detecting current and future trends in international food markets is essential for preventing potential crises. This indicator gives regular price information on a basket of goods to help ensure appropriate measures can be taken to offset hikes.

Key results

Globally the proportion of countries affected by high food prices decreased in 2017-2018, but over a quarter experienced food price volatility

In 2017-2018, the proportion of countries experiencing abnormally high and moderately high food prices declined compared to 2015-2016. The largest decline was recorded in Eastern Asia and South-eastern Asia, driven by weaker agricultural commodity prices, amid currency appreciations, particularly in South-eastern Asia.

By contrast, an increase in countries affected by abnormally and moderately high food prices was recorded in Central Asia and Southern Asia, underpinned by reduced domestic availabilities of food staples and currency depreciations in selected countries in Southern Asia.

Although overall lower than in 2015-2016, high food prices continued to afflict more than one third of the countries in Western Asia and North Africa in 2017-2018, due to a combination of currency depreciations, reduced crop harvests and a rebound in world oil prices from mid-2017 to mid-2018.

High food prices affected a relatively smaller proportion of countries in North America and Europe, as well as in Latin America and the Caribbean, where the share of countries experiencing abnormally and moderately high prices broadly declined in 2017-2018, supported by satisfactory production of agricultural commodities. In Oceania, price indices are only available for a handful of countries, making it difficult to draw conclusions about food price volatility at the regional level.

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