Food prices in the European Union (EU) have continued to increase in 2023 but potato prices have shown a “staggering rise”, according to latest Eurostat analysis.
The statistical office of the EU said that there had been “substantial increases” in food prices throughout 2022 but latest data for the second and third quarters of 2023 showed a “slower increase” in prices than before.
“In September 2023, prices of eggs, butter and potatoes in the EU are higher than in January 2021 and 2022 but are not as high as some months prior, while the prices of olive oil have been consistently increasing,” Eurostat outlined.
There is also one other key staple for many European households which has charted a strong increase in prices this year.
According to the statistical office potato prices showed a “staggering rise” in 2023.
“Since January 2021, prices for potatoes increased by 53% in September 2023, following a peak in June 2023 (60%),” it also highlighted.
However according to Eurostat the price of eggs, butter and olive oil has also risen sharply since 2021.
The statistical office detailed: “In September 2023, the price of olive oil was 75% higher than in January 2021. In January 2022, prices were already 11% higher than the same month of the year before, and between September 2022 and September 2023, prices registered a sharp increase.
“As for the prices of eggs, in September 2023, they were 37% higher than in January 2021. Egg prices stabilised in the first two quarters of 2023 and showed some decrease in August and September this year.”
Butter prices also followed a similar path after peaking in December 2022 but then declined slowly, however in September 2023 butter was 27% more expensive than in January 2021.
But while EU food prices increased during 2023 latest analysis from the Central Statistics Office (CSO) showed that in contrast producer prices for food products fell by 8.1% in the 12 months to September 2023 in Ireland.
According to the Wholesale Price Index for September 2023 published by the CSO, producer prices for dairy products dropped by more than 25% in the 12 months to September 2023.