Thomas Tooke

The sequence of Price increases during the Greenback standard period

In Commodities, Inflationary Periods on August 12, 2012 at 8:43 pm

As we have seen before Gold, the commodity form of money was the first to spike up and indicate rise in prices. What happens next is to compare the behavior of Food and Non Food commodities during this inflationary period.

Those charts describe the behavior of food and non food commodities with the median of each category across time with the data on lower deciles on the left and higher deciles on the right.  Initially the non-food commodities increase in price faster than the food commodities.

However food commodities increase in price and peak around January 1865 at around the same as the Gold peak in price.

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