FOOD PRICE DYNAMICS AND ECONOMIC PROSPERITY IN SUB-SAHARAN AFRICA: A COMPREHENSIVE ANALYSIS

Authors

  • Adewale Olumide Ojo Department of Economics, Ogun State University, Nigeria
  • Taiwo Adesola Adebayo Faculty of Social Sciences, Ogun State University, Nigeria

DOI:

https://doi.org/10.5281/zenodo.15387040

Keywords:

Food Price Index, Global food prices, Consumer behavior, Economic welfare, Substitutability

Abstract

The escalating prices of essential food commodities globally, including cereals, oilseeds, dairy products, and meat, have garnered significant attention in recent years. From 2002 to 2013, the Food Price Index (FPI) experienced a notable surge, reaching its highest levels since the establishment of the United Nations Food and Agriculture Organization (FAO) in 1990. This upward trend in food prices raises concerns about its potential adverse impacts on people's income and overall welfare. Consumers, particularly in the face of limited substitutes, exhibit heightened sensitivity to fluctuations in food prices, which can profoundly influence their consumption choices and economic well-being

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Published

2025-05-12

How to Cite

Ojo , A. O., & Adebayo, T. A. (2025). FOOD PRICE DYNAMICS AND ECONOMIC PROSPERITY IN SUB-SAHARAN AFRICA: A COMPREHENSIVE ANALYSIS. Ayden International Journal of Applied Economics, Finance and Accounting, 13(2), 12–25. https://doi.org/10.5281/zenodo.15387040

Issue

Vol. 13 No. 2 (2025)

Section

Articles