The price of bread in the EU has seen a huge increase compared to last year

Published Sep 20, 2022

Tridge summary

The article highlights the significant rise in food prices across the European Union due to the Russian invasion of Ukraine, with particular focus on bread prices. The average price of bread in the EU increased by 18% in August 2022 compared to the same month in the previous year, with Hungary experiencing the most dramatic increase (66%). Other staple foods and edible oils and fats also saw sharp price hikes, contributing to an overall increase in inflation, as indicated by Eurostat's harmonized index of consumer prices (HICP). The impact of these price increases varied across EU countries.

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

Original content

Bread, vegetables, meat and food in general became more expensive. The prices of edible oils and fats rose particularly sharply, but important staple foods, such as bread, also became significantly more expensive. This is particularly due to the Russian invasion of Ukraine, which significantly disrupted global markets, as Russia and Ukraine are major exporters of grain, wheat, corn, oilseeds (especially sunflower), and fertilizers. In August 2022, the price of bread in the EU was on average 18% higher than a year earlier. This is a huge increase compared to August 2021, when bread prices were only 3% higher on average than in August 2020. Monthly data also show a significant increase in overall inflation, although not to such a large extent (+3% to +10%) - we read in the data of the harmonized index of consumer prices (HICP) recently published by Eurostat. Some countries are much more affected by price ...

Source: Magro