Food prices ahead of Christmas to be 23% higher than a year ago

In December 2022, as in November, food prices in Poland are around 23 percent higher than a year ago, according to estimates from the Food and Agri Sector Analysis Office at Bank BNP Paribas. The scale of food price increases observed today is the highest in the entire 21st century. All product categories have become more expensive. Even for carp for this year's Christmas Eve, we will pay significantly more than last year. This means that we are in for a Christmas that is much more modest and painful for our wallets than the one we have become accustomed to over the past decades.

High growth dynamics of food prices are currently observed in most European Union countries. As it turns out, Poland was characterized by one of the lowest dynamics of food price increases among all countries which joined the Community after 2003. In October this year, food prices in the EU were on average 17.8 percent higher than in the same month a year earlier. The record-holder in this respect is Hungary, where food prices rose by 45.2 percent y/y.

(WBJ)