Using unique rural household panel data in 2005–2010, this study estimates nutrient elasticity for rural households by income group and evaluates the impacts of rising food prices on food consumption and nutrition of the rural poor. The results show that the shocks of income and rising food prices have adverse impacts on the nutrition of rural households, especially for low-income groups, purely poor farming groups, and minorities who are not capable of self-adjustment and are more vulnerable to rising food prices. Interestingly, we found that the rural poor could consciously adjust food consumption structure to adapt to rising food prices. In this regard, future research would help to provide effective policy implications for preventing shocks to the rural poor.