With food prices increasing substantially over 2022, sugar has been one of the food products with the highest price hike. Monthly data indicates a continuous increase in the annual rates of change starting August 2021, reaching 61% in February and March 2023, meaning that sugar prices in the EU in those two months were, on average, 61% higher than in the same months of 2022, Eurostat, the statistical office of the European Union says.
The annual rate of change for March 2022 was almost six times lower (11%), and the difference is even more sizeable two years back, in March 2021, when the rate was 1.6%.
Czechia: highest increase in annual inflation of sugar prices at 98%
In March 2023, the highest increases in annual inflation for sugar were recorded in Czechia (98%), Estonia (97%), Poland (82%), Germany (72%), and Latvia (70%), while smaller but still considerable increases were registered in Hungary (17%), followed by Luxembourg (19%), Belgium (35%), Bulgaria (36%) and Ireland (37%).
