The graph gives information about average price of a barrel of oil and the food price index from 2000 to 2011.It is clear that a dramatic increase in both commodity price was seen over period shown. Furthermore, the trend for both commodities were similar
The graph gives information about average price of a barrel of oil and the food price index from 2000 to 2011. It is clear that a dramatic increase in both commodity price was seen over period shown. Furthermore, the trend for both commodities were similar DlqmA
The graph gives information about average price of a barrel of oil and the food price index from 2000 to 2011.
It is clear that a dramatic increase in both commodity price was seen over period shown. Furthermore, the trend for both commodities were similar, so a strong correlation is suggested.
In 2000, the index of food price was about 90 points. The same pattern can be seen for oil price, just below $30 per barrel. Over following four years, both prices remained relatively stable, before rising dramatically between 2004 and 2007. By 2007, he average of oil price had more than double, to nearly $60 per barrel, food price rose by around 50 points.
In 2008, average global prices of both oil and food rose suddenly, with oil price reaching a peak of approximately $130, world food index reaching to 220 points. By 2009, the figure for both commodities fall significantly, at $40 for average oil prices and 140 points for food price index, before rising one again in 2011. By 2011, oil cost reached at $100 per barrel, while index of food price peaked at 240 points.
The graph gives information about
average
price
of a
barrel
of
oil
and the
food
price
index
from 2000 to 2011.
It is
clear
that a dramatic increase in both commodity
price
was
seen
over period shown.
Furthermore
, the trend for both commodities were similar,
so
a strong correlation
is suggested
.
In 2000, the
index
of
food
price
was about 90
points
. The same pattern can be
seen
for
oil
price
,
just
below $30 per
barrel
. Over following four years, both
prices
remained
relatively
stable,
before
rising
dramatically
between 2004 and 2007. By 2007, he
average
of
oil
price
had more than double, to
nearly
$60 per
barrel
,
food
price
rose by around 50 points.
In 2008,
average
global
prices
of both
oil
and
food
rose
suddenly
, with
oil
price
reaching a peak of approximately $130, world
food
index
reaching to 220
points
. By 2009, the figure for both commodities fall
significantly
, at $40 for
average
oil
prices
and 140
points
for
food
price
index
,
before
rising one again in 2011. By 2011,
oil
cost reached at $100 per
barrel
, while
index
of
food
price
peaked at 240
points
.