Although food prices have already risen by almost 50%, one category is getting much more expensive, informs Dziennik Gazeta Prawna.
Highly processed food products are the slowest to get more expensive, GDP reports. This is because the raw material price in such products is only a small fraction of the total price. As a result, the products are not so dependent on changes in the prices of the basic products.
The most expensive categories of food products
In the year-on-year comparison, some food categories increased by almost 30 to almost 50 percent. These include poultry, which is 47% more expensive, margarine (38%), sugar (35%) or beef (29%). Other basic products that became more expensive within 12 months were butter (26%), flour (25%), potatoes (24%), bread (24%), fish (23%), and lamb (19%) percent).
Where raw material is only a part of the product price, prices increased more slowly. For example, chocolate only went up by 2 percent. compared to last year, and baby products by just 1 percent. Fruit and vegetable preserves based on last year’s harvest have increased by several percent.
Food prices in Europe will continue to rise
According to Paweł Wawrzynowski, an analyst of the Food and Agri sector at BNP Paribas Bank, quoted by Dziennik Gazeta Prawna, lower prices may appear along with this year’s harvest. In his opinion, however, prices will not fall to the level of last year.ac
According to the Allianz Trade analytical institution, food prices in Europe will continue to rise. According to analysts, the inflation peak in Poland will not take place until the end of summer holidays, and the prices of food producers respond to the inflation level with a certain delay.
In other words it seems the anti inflation shield is not working as well here.