The loopy rise within the worth of bread in Belgium
The consequence of the Russian invasion in Ukraine
The evolution of the bread shopper worth index (CPI) curve reveals a major improve from February 2022, i.e. when the Russian invasion of the Ukraine (see under). As a reminder, the CPI is a device that measures the evolution of the typical worth degree.
For the European statistical workplace Eurostat, the warfare in Ukraine explains the explosion within the worth of bread: “It has considerably disrupted world markets”.
Comparatively low inflation in comparison with our neighbors
Nonetheless, Belgian bread worth inflation stays among the many lowest within the European Union and is under the typical of 18%. In Hungary, for instance, inflation has reached 66%. It’s the nation hardest hit. That is adopted by Lithuania (+33%), Estonia and Slovakia (+32%). Belgian inflation is extra just like that of France, the least affected nation (+8%), the Netherlands and Luxembourg (+10%).
This improve within the worth of bread is a part of a context of basic inflation. Bread shouldn’t be the one product involved. The value of greens, meats and oils has additionally risen sharply. In Belgium, inflation reached 9.94% in August: exceptional since March 1976.
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