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In page Price revolution:

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Demographic factors also contributed to upward pressure on prices with the resurgence of European population growth after the century of depopulation following the Black Death (1347–1353).[1] The price of food rose during the years of the plague, and then began to fall as the population of nations decreased.[2][3] At the same time prices of manufactured goods rose because of a displacement of supply.[4] As the nations began to recover and repopulate after the Black Death, the increase in population placed greater demands on agriculture. 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.[citation needed]