Commodity Food Prices: Review and Empirics

Table 5

Descriptive statistics.

Variables	Means	Standard deviations	Variables (logarithms)	Means	Standard deviations
cfpi	111.97	30.451	lcfpi	4.6855	0.24925
coil	83.247	59.802	lcoil	4.1745	0.70054
reer	105.55	8.1379	lreer	4.6563	0.075735

cfpi stands for the commodity monthly food price index (2005 = 100), coil stands for crude oil (petroleum) monthly price and is measured in U.S. dollar per barrel, reer stands for the U.S. real effective exchange rate (2010 = 100).