The recent sharp increase and volatility in food prices have shaken governments, in both developed and developing countries, and international development communities. As a result, it has stimulated renewed interest in assessing its impacts on food security. This paper will attempt to contribute to these growing efforts. The purpose here is to examine the relationship between food consumption, which we take as a measure of food security, and food prices and other factors using the well-established availability/access/utilization framework in the CARICOM region. More specifically, the main focus of the paper will be on “chronic” as opposed to “transitory” food insecurity. The result is expected to have wider policy implications for both immediate as well as long-term national and regional food systems.