Food prices have increased by a third since 2019

Since 2022, the prices of everyday food products have increased much more than those of other products in the eurozone. On average, food prices have increased by a third since 2019.

Price increases for some products such as coffee, chocolate, butter, and milk are even reaching an increase of 40 to 60%. In Belgium, food inflation stands at 38%, and is even slightly higher in the Netherlands at 39%. Countries such as the Baltic states and Slovakia have seen even higher increases.

Although general inflation in the eurozone has declined to around 2% after peaking at over 10% in 2022, the impact of previous price increases is still being felt. Low-income households are particularly affected, as they spend a larger share of their budget on food.

According to the European Central Bank, food prices not only have a direct impact on daily life, but also play a disproportionate role in perceptions of inflation and future forecasts. These forecasts have an influence on price stability and, consequently, on monetary policy in Europe.

(MH with Raphaël Liset avec DC - Source : NRC - Photo : © Unsplash)