The price of bread rose by almost a fifth in the European Union in August as Russia’s invasion of Ukraine, both major exporters of grains and fertilisers, continued to disrupt global markets and headline inflation accelerated.
Hungary has seen the biggest increase, with prices rising by 65 percent in a year, according to data published by European statistics website Eurostat.
In August 2022, the price of bread in the European Union (EU) was on average 18 percent higher than in August 2021, according to figures published by Eurostat earlier this week.
This is attributed to the war in Ukraine, “which has considerably disrupted world markets, as Russia and Ukraine were major exporters of cereals, wheat, maize, oilseeds (especially sunflower) and fertilisers”, explains European statistics website.
“A huge increase compared to August 2021”, notes Eurostat, since at that time “the price of bread was on average 3% higher than in August 2020”.