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This is the cover image for the International Income and Price Elasticity Estimates: An Update report.

International Income and Price Elasticity Estimates: An Update

  • TB-1971

Overview

Price and income elasticities are key to understanding how changes in prices and income affect food demand. USDA’s International Food Security Assessment and Baseline models rely on price and income elasticity estimates from previous studies. This study derives new elasticities using an Almost Ideal Demand System (AIDS) approach and relies on data from the 2017 International Comparison Program (ICP) of the World Bank. The ICP data, covering 176 economies, is categorized by geographic regions and income groups.

Note: On August 8, 2025, this page was updated to include source data from the World Bank as well as adjustments to the text to reflect the World Bank’s data documentation.

How to Cite:

Zereyesus, Y. A., Xia, T., Nava, N. J., Li, X., & Cardell, L. (2025). International income and price elasticity estimates: An update (Report No. TB-1971). U.S. Department of Agriculture, Economic Research Service. https://doi.org/10.32747/2025.9228006.ers

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