Cornell University Expert Offers Tip Sheet On Food Price Decline

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A drop in the price of many foods is one positive aspect of the economic downturn. Cornell University is pleased to offer the following comments from economic expert Edward McLaughlin, who notes that a poor economy is driving down the prices of many foods.

During economic downturns, a number of changes in food prices are predictable, and all are in evidence in this downturn: A switch from food service to retail, a switch from up-market stores to value formats, a switch from national brands to private labels, and a switch from exotics to commodities.

Cornell University expert: A drop in the price of many foods is one positive aspect of the economic downturn.

Editors and producers:
Cornell University is pleased to offer the following comments from economic expert Edward McLaughlin, who notes that a poor economy is driving down the prices of many foods.

McLaughlin is available for interviews. Please contact Joe Schwartz in the Cornell Press Relations Office at Joe.Schwartz (at) cornell (dot) edu or 607-351-4221 to schedule interviews.

"During economic downturns, a number of changes in food prices are predictable, and all are in evidence in this downturn: A switch from food service to retail, a switch from up-market stores to value formats, a switch from national brands to private labels, and a switch from exotics to commodities." -- Edward McLaughlin, Cornell University Professor of Applied Economics and Management.

The Cornell Press Relations Office Web site lists information on additional topics. For more information, visit http://www.pressoffice.cornell.edu and click "Experts on the issues" link. Or, call the Cornell Press Relations Office directly at 607-255-6074.

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