COST OF LIVING
European Union bread prices jumped 18% in August
September 21, 2022 - The cost of bread soared by almost a fifth in the European Union in August, compared to a year ago – a direct result of Russia’s invasion of Ukraine and its blocking of Black Sea ports.
Year-on-year, the price of bread rose by 18% in the European Union in August – a direct result of Russia’s invasion of Ukraine which has significantly disturbed global markets. Russia and Ukraine have been major exporters of grains, wheat and maize.
Since the invasion began in February, global wheat prices have soared as the war halted grain exports from Black Sea ports for months.
The average price for bread in the EU was 18% higher in August 2022 than a year earlier. Hungary saw the biggest annual change with an increase of 65.5%.
Eurozone inflation hit a record high of 9.1% in August, driven by sharply higher energy and food prices.