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Retail

Food Price Inflation Surges 9.2% In Poland, Driven By Ukraine Conflict

Food price inflation in Poland rose 9.2% in March, according to Główny Urząd Statystyczny, the country's national statistics office, with the war in Ukraine adding to the inflationary pressure.

Overall, the price of consumer goods and services was 11% higher, year-on-year, and 3.3% higher than the previous month.

Food prices were 2.2% higher than in February, it added.

Increased Fuel Prices

A rapid increase in fuel prices, of more than a third (33.5%) year-on-year, has been driven by a strong increase in crude oil prices in the global market in response to the conflict, while the US dollar-PLN exchange rate has also risen.

Increased fuel prices have had a knock on effect within the food production sector, along with rising agricultural commodity prices, higher energy costs and increased labour costs.

Essential Products

Core products such as vegetable oils (+30.3%), bread (+17.7%) and flour (+19.4%) have seen the biggest increase in prices – all of these are products directly linked to the war in neighbouring Ukraine.

Meat prices have also risen, by 32.0%, according to the data, as a result of the rising price of animal feed, particularly feed for poultry. In addition, the effect of last year's losses as a result of a breakout of avian flu are still being felt by the industry.

On Friday, the Polish Economic Institute, PIE, an advisory body to the government, said that Poland's inflation rate was now at a 21-year high, and is likely to peak during the summer.

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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