Retail

EU Coffee Prices Up 16.9% In August: Eurostat

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Starting the day with a cup of coffee has become more expensive, the European Union's statistics office said, highlighting a jump in the price of the staple along with those of sugar and milk.

"Recent price rises might make this morning staple almost a luxury," Eurostat said, reporting that coffee prices had on average surged 16.9% in August from a year earlier.

Fresh whole milk now cost 24.3% more on average, while consumers paid 22.2% more for fresh low fat milk, Eurostat said.

Sugar saw the sharpest increase, with its average price jumping 33.4%.

The data showed prices had risen for these four items in all EU member countries except Malta, where the price of fresh low fat milk was unchanged.

Read More: Retail Sales Of Roasted Coffee Decline In Italy

Coffee Prices

Finland and Lithuania saw the highest changes in coffee prices, with increases of 43.6% and 39.9% respectively, followed by Sweden and Estonia.

Poland saw the highest jump in sugar prices, which leapt 109.2% from August 2021.

In the euro zone – the 19 countries sharing the euro – consumer price inflation hit 9.1% in August, driven by energy and food prices. It hit a new record high of 10% in September, according to Eurostat's flash estimate.

Elsewhere, food giant Nestlé has pledged to spend over CHF 1 billion (€1.02 billion) by 2030 on efforts to source coffee sustainably, more than double its previous pledge, as challenges linked to climate change pose particular risks for the bean.

News by Reuters, edited by ESM – your source for the latest retail news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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