While it is impossible not to notice that nearly everything has become more expensive in recent months, the price of important staple foods has also gone up significantly – with bread now costing more than ever in the European Union.
The price hikes are particularly due to Russia's invasion of Ukraine, which has significantly disturbed global markets since both countries have been major exporters of grains, wheat, maize, oilseeds (particularly sunflowers) and fertilisers.
In August 2022, the price of bread in the EU was on average 18% higher than in August 2021, according to figures by the EU statistical office Eurostat. "This is a huge increase compared with August 2021, when the price of bread was on average 3% higher than in August 2020."
[caption id="" align="alignnone" width="2161"] Not all countries are affected to the same extent, however. In Belgium, a 13-14% rise was recorded in August 2022.[/caption]
The highest average rate of change in bread prices was recorded in Hungary (+66% in August 2022), followed by Lithuania (+33%), Estonia and Slovakia (both +32%).
The lowest average rate of change in bread prices was recorded in France (+8% in August 2022), the Netherlands and Luxembourg (both +10%).