Page "Price revolution" Paragraph 3

Demographic factors also contributed to upward pressure on prices, with the revival ( from around the third quarter of the 15th century ) of European population growth after the century of depopulation and demographic stagnation that had followed the Black Death.

The price of food rose sharply during epidemic years, then began to fall very rapidly as there were fewer mouths to feed.

At the same time prices of manufactured goods tended to rise because of dislocation of supply.

Later on, increased population placed greater demands on an agricultural area that had contracted significantly after the 1340s, or had been converted from arable to less intensive livestock production.