• Food prices continued to rise in Europe, although the data provided by Eurostat, the European statistics agency, on 25.01.2023, shows a decrease in inflation.
Inflation in the euro area is moderating. According to the data provided by the agency Eurostat, quoted by EuroNews, inflation decreased for the second consecutive month in December 2022. Thus, in December, food price inflation in the EU was 18,2%, and in the euro area 16,2%, which represents a slight down from November 2022 average.
Despite this decrease, the prices of basic foodstuffs in the European Union, such as sugar, milk and eggs, oils and fats, continued to rise. In first place in terms of price increases was Hungary, with almost 50%, followed by Lithuania in second place with 33,5%, then Estonia with 30,8%. The countries with the smallest price changes were Luxembourg with 11,1%, Ireland with 12,1% and Cyprus with 12,2%.
The food products with the most significant price increases in EU countries, ranging from 30,2% to 56,6% on average, were fresh whole milk, eggs, sugar, oil and fats, butter and other oils edible.
Food price hikes in the euro area
The price of sugar in Estonia doubled, in the Czech Republic it increased by 98,9% and in Poland by 87,4%. For Sweden, Denmark and Luxembourg, the change in sugar prices was around 10%. Prices of another food staple, eggs, also saw increases, from 14,8% in Luxembourg to 92,5% in the Czech Republic, while the EU average was 30%.
Conform National Institute of Statistics, in Romania, the annual inflation rate in December 2022, compared to December 2021, was 16,4%. In food there was a price increase of 22,05%, in a single year. INS data show that there was a price increase of 62,79% for sugar, 37,46% for oil, 35,51% for eggs, 33% for flour, 30,67% for milk and dairy products %, and 25,83% for bread.
Article written by Gabriela Dan, Editor of Arta Albă
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