Ethanol’s impact on food prices was minimal, says CBO report

Posted on April 18, 2009
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An April 2009 report by The Congressional Budget Office (CBO) estimates that from April 2007 to April 2008, the rise in the price of corn resulting from expanded production of ethanol contributed between 0.5 and 0.8 percentage points of the 5.1 percent increase in food prices measured by the consumer price index (CPI).

Over the same period, certain other factors—for example, higher energy costs—had a greater effect on food prices than did the use of ethanol as a motor fuel.

Link to the report from Farmenergynews.com web site. Click here . . .

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