Bread prices in the EU rose to a record high due to the war in Ukraine

Published 2022년 9월 25일

Tridge summary

In August, bread prices in the European Union rose by nearly 18% compared to the previous year, marking the highest increase since December 2017. This surge is largely attributed to the ongoing conflict between Russia and Ukraine, a key supplier of grain and fertilizers, which has disrupted global markets and led to a significant increase in world wheat prices. The most significant price hikes were observed in Hungary (66%) and Lithuania (33%), while countries like France, the Netherlands, and Luxembourg experienced lower increases. The steady rise in bread prices in the EU, which began in February when Russia invaded Ukraine, has resulted in the highest combined prices of bread and cereals since at least January 1997.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the European Union, bread prices rose by almost a fifth in August as Russia's invasion of Ukraine, a major grain and fertilizer exporter, continued to ravage global markets and headline inflation accelerated. Reuters writes about it. It is noted that world wheat prices have risen since February after the war for several months suspended the export of grain from the Black Sea and limited the shipment of fertilizers, as Russian producers lost access to the Baltic Sea ports, which they used to ship ammonia, a key ingredient in nitrate fertilizers. . Therefore, the average price of bread in the EU in August 2022 was 18% higher than a year earlier. This is the highest increase since December 2017, according to the EU statistics office. According to Eurostat, in August 2021, the average price of bread increased by 3% year on year. High annual changes in the average price of bread were recorded in Hungary and Lithuania: the growth was 66% and 33%, ...

Source: Finance