Prices for milk, cheese and eggs in Europe have shown a sharp
increase over the last year while those for meat have gone up less
than half as fast according to a report just published.
The report examines changes to the 12-month rolling average
rate of inflation for selected food groups in the 27 EU member
states, comparing the rate in February 2008 with the same month
The results of the analysis, by the Agriculture and Horticulture
Development Board (AHDB) Meat Services, showed prices of milk,
cheese and eggs rose by almost seven per cent in the 12 months
ending February 2008, compared with only one per cent during the
12-month period before that.
Prices of bread and cereal-based foods
also recorded much larger price rises than a year earlier, influenced
by tightening global supplies of grains. In contrast, meat and
fish prices rose by only three per cent over the twelve months
to February this year, up from two per cent in the previous twelve
countries have suffered the most from food price rises over the
last year, with Bulgaria and Latvia recording food inflation at
around 16 per cent in February, compared with an EU-27 average
of four per cent.
The edition also includes a review of
changes in household expenditure over the last 50 years, to mark
half a century of the Expenditure and Food Survey.
AHDB Market Analyst Tracey Richardson said, "Disposable
incomes in some Eastern European countries rose during the year,
giving consumers increased purchasing power and this has led to
increased demand. But reduced grain yields can't be discounted
as an influence."
report on EU food inflation forms part of the March 2008 edition
of Meat Demand Trends from the Economics team at AHDB Meat Services.
It is available by contacting Jayne Dines on 01908 844396 or email
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