The line graph compares movements in the world food price index and the average price of crude oil from 2000 to 2011.
Overall, both series trended strongly upward and moved in close step with one another, with pronounced surges in 2007-2008, a sharp slump in 2009, and a renewed climb to new peaks by 2011. The close co-movement indicates a very high correlation between food and oil prices.
At the start of the period, both measures were relatively low and stable: the food index hovered around 80-90 points while oil traded at roughly $25-30 per barrel. From 2004, both began rising more quickly. By 2007, the food index had advanced to about 150, and oil prices roughly $70-80.
The most dramatic changes occurred in 2008, when oil spiked to approximately $130 per barrel; the food index surged simultaneously to just above 200. This was followed by a sharp contraction during 2009, with oil falling to around $40 and the food index easing to roughly 140.
From 2010 to 2011, both indicators rebounded. Oil recovered to the $110-120 range, and the food index climbed to a record of approximately 230-240. In sum, global food prices closely tracked oil prices over the decade, rising to their highest levels by the end of the period.