foodinflation
Coffee prices hardly increased in the EU in March, they inched up by 1% on average, hitting a 32-month-low inflation rate for this category. This compares to the hair-raising pace of growth last March when the commodity jumped by 13.5% in yearly comparison. The inflation rate for coffee has been declining since October 2022, when it was at its highest, reaching 17.4%. Although the increase in coffee prices slowed down in the EU overall, there are significant differences across countries. The highest inflation rates were registered in Croatia where coffee cost 7.4% more than last March. This ra...
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Over the years, the doner kebab, introduced to Germany by Turkish immigrants, has established itself as a staple of low-cost street-food. However, the affordability of this dish has recently been undermined, with prices more than doubling within two years. Factors such as rising wages and energy costs, compounded by geopolitical tensions, including the Ukraine war, have contributed to what German Chancellor Olaf Scholz himself has called "donerflation". Politics and society, all concerned by ‘dönerflation’.German politicians, particularly left-wing ones, have taken up the issue, proposing a 'd...
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Prices in Hungary picked up slightly in April, after declining for more than a year; the annual inflation was 3.7% from an over 3-year low of 3.6% in the previous month, according to the Hungarian Central Statistical Office. Compared to March, prices increased by 0.7%, easing from a 0.8% rise previously. In a yearly comparison, services became 9.5% more expensive, within which rents were up by 14%. Motor fuel prices cost 6.6% more than a year ago, and 3.5% more than in the previous month. Where in Europe was unemployment the lowest in March? Hungarian inflation falls to two-year low in January...
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The country's annual consumer price inflation climbed close to 70% last month, just slightly below expectations. However, it marked the highest rate since November 2022 due to strong price increases in education, restaurant and hotels prices. Weekly market recap: Mixed trends amid macro signals and earnings seasonFinance minister, Mehmet Simsek, commented on the data to Reuters and said April's month-on-month inflation, which was 3.18%, was in line with expectations. In March it was at 3.16%. "After annual inflation reaches its peak in May, it will begin to decline sharply in line with our pre...
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The UK year-on-year inflation report for March 2024 came out on Wednesday morning, clocking in at 3.2%, according to the Office for National Statistics (ONS), marking a decline from February’s 3.4%. However, it was still above analyst estimates of 3.1%, although the lowest number since September 2021. Food inflation slowing down was one of the biggest contributors to the decline, coming down to 4% from 5% in the previous month. Here's why Germany's economy remains the most distressed in Europe Regarding food and non-alcoholic beverages prices, the ONS said: “Prices have been relatively high bu...
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Newly announced details of a post-Brexit border check system has drawn criticism from businesses and trade bodies in the UK, with a warning that it could inflate food prices and lead the closure of several small businesses. From 30 April this year, firms importing plants or animal products from the EU via the Port of Dover or Eurotunnel will have to pay up to £145 per consignment to cover the costs of a new border check. The post-Brexit measures are designed to preserve "effective biosecurity and public health systems," according to the UK government, which announced details of the charges of ...
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Annual inflation slowed as prices rose 1% compared to the previous year in Switzerland, the Federal Statistical Office reported on Thursday. The rate of the price increase was less than expected and also slower than the 1.2% measured in the previous month. As a matter of fact, it was the slowest since September 2021, vindicating thesurprise rate cut from the Swiss National Bank (SNB) last month. Annual core inflation, excluding volatile items such as food and energy prices, also slowed to 1% from the previous 1.1%. Switzerland and Norway could invest $100 billion in IndiaPrices remained unchan...
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Egg prices are at near-historic highs in many parts of the world as the spring holidays approach, reflecting a market scrambled by disease, high demand and growing costs for farmers. It’s the second year in a row consumers have faced sticker shock ahead of Easter and Passover, both occasions in which eggs play prominent roles. While global prices are lower than they were at this time last year, they remain elevated, said Nan-Dirk Mulder, a senior global specialist with Dutch financial firm RaboBank’s RaboResearch Food and Agribusiness division. Mulder doesn’t expect them to return to 2021 leve...
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The preliminary estimate for the French year-on-year inflation report for March 2024 came out on Friday morning, clocking in at 2.3%, according to INSEE, France. This was the lowest since September 2021, and was also considerably under analyst expectations of 2.6%, as well as February’s 3% print. This was largely due to food prices increasing at a slower pace, at 1.7% in March, from 3.6% in February, with fresh food prices dropping 3.9%. Tobacco prices also saw a sharp slowdown, rising 10.7% this month, down from 18.7% in February. Similarly, services prices stabilised somewhat, seeing an incr...
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Increased average temperatures could drive up annual food inflation by up to 3.2% per year and overall inflation by up to 1.18% per year by 2035, according to a fresh study by the Potsdam Institute for Climate Impact Research (PIK). In the study, the scientists looked at how climate factors such as high temperatures and extreme rainfall have affected inflation in historical data, but they did not take a separate look at which food items were likely to be most affected. "Looking at over 27,000 observations of historical data, we found that increases in temperatures can increase food prices, par...
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