This past April 2022, the expected figures for inflation in the indicators, and especially food, are already beginning to be clearly noticed; sample of what causes a crisis of supplies of basic raw materials such as cereals
The IRI has provided some pretty compelling data in terms of changes and trends; the average price in mass consumption has increased by 8.5% compared to the same month of the previous year, while in this year’s speech the rise has been 5.6%.
As for consumer sectors, the food sector has been the one that has risen the most in price (price/volume), with a very significant, even worrying, rise of 12.1%. They are followed by drugstore and cleaning (+9.8%), fresh produce (+6.9%) and beverages (+6.6%).
We are already seeing how the Ukraine issue is affecting the entire economy, not only continental, but global.
And that is undoubtedly the number one reason for this clear price escalation in basic consumer products. Ukraine and Russia are two of the main cereal producing countries in the world, and right now their export is quite paralyzed or very low.
Cereals, as raw material, are essential for the chain. Without it, the rest of the global food industry suffers.
This represents another great danger of globalization and the interdependence between countries.
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The EC studies reviewing materials in contact with food Published by: Josep Feixas – Share: The European Commission (EC) launches the public consultation on the