coffee, dairy and meat are already almost 20 percent more expensive

Bottles of oil at a Chinese factory in Jiangsu province. The prices of oils and fats rose the most, at 33 percent.Image VCG via Getty Images

Energy inflation spills over to food

The price increases for gas and electricity are spilling over into food prices. Coffee, tea, milk, eggs and meat are 17 to 19 percent more expensive on an annual basis, according to figures from the Central Bureau of Statistics (CBS) on Tuesday. The total price increase in August amounted to 12 percent, the highest level since the 1970s. Energy in particular has become considerably more expensive in a year, with a jump of 150 percent. As a result, half of inflation – 6 out of 12 percentage points – can be traced back to energy. Due to this price explosion, producers feel compelled to pass on their higher costs in food prices. As a result, food prices have been rising above average for several months. The food together has risen 13 percent in price. The prices of oils and fats (such as sunflower oil) rose the most at 33 percent. Bread and grains have become on average 10 percent more expensive. Only the prices of drinks are lagging behind.

Diesel more expensive than a liter of Euro95

The price of a liter of diesel has been higher than that of a liter of Euro95 for a few days now. In recent history, motorists have never paid more for diesel than for gasoline. The price of diesel has risen sharply, especially in the last two weeks. Diesel is often made with Russian oil. Due to the upcoming Russian boycott, the diesel will have to come from other countries. Diesel is also used by some factories as a substitute for gas. Just after the holiday season, the demand for petrol is often somewhat lower, while the demand from trucks for diesel remains high. The diesel price is still lower than in March, when after the outbreak of the war the price exceeded 2.20 euros per liter.

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