Food price growth will peak in October, exceeding 20% - Credit Agricole

The increase in food prices will peak in October, exceeding 20%, Credit Agricole Bank Polska forecast. After that, a gentle downward trend is expected, assuming that the anti-inflation shield will be maintained until the end of 2023.

The report shows that most industries producing basic products -  sugar, dairy products, meat, oils, and fats or flour - were able to shift the rising costs to subsequent sections of the supply chain. 

The strongest increase in the share of total costs in revenue was recorded in the fish and seafood production industry, coffee and tea processing, and the production of bakery and flour products. Credit Agricole expects the high cost pressure to continue in the coming quarters.