The surge in euro area food inflation and the impact of the Russia-Ukraine war

Katalin Bodnár and Tobias Schuler

Economic Bulletin Boxes, 2022, vol. 4

Abstract: This box examines recent developments in euro area food inflation and the channels through which it is being affected by the Russia-Ukraine war. Euro area HICP food inflation reached a historical high in April 2022. The rise has been driven primarily by increasing global energy and food commodity prices since the second half of 2021. The war and its repercussions are hindering the import of energy and food commodities in the euro area and contributing to further increases in global prices. While the European Union is mostly self-sufficient in terms of agricultural products, producing more than it consumes, this is exacerbating already existing pressures in euro area food markets. JEL Classification: E31, F10, F51

Keywords: external trade; food inflation (search for similar items in EconPapers)
Date: 2022-06
Note: 2881411
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Citations: View citations in EconPapers (7)

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