What is agflation?

A form of inflation specifically caused by the rise in prices of agricultural products, making food structurally more expensive. The term is a combination of 'agricultural inflation'. With agflation, money does not generally become less valuable, but food becomes relatively scarcer and thus more expensive. This phenomenon is often caused by increased demand for food in emerging economies, rising incomes, increasing meat consumption, and the growing demand for biofuels.

Example: "The prices of grain, maize, and soy are rising again due to disappointing harvests."