EU food prices up by 7.1% year-on-year in April 2008

Since the end of 2006, but particularly since July 2007, food prices1 in the EU2 have increased more rapidly than overall inflation. The same pattern was observed for the euro area3. In April
2008, the annual increase in food prices in the EU was 7.1%, compared with 3.6% for overall inflation, as measured by the all-items HICP. In the euro area, the annual increase in food prices
was 6.2%, compared with 3.3% for overall inflation.

March and April 2008 recorded the highest annual increases in food prices in both the EU and the euro area since the beginning of the series in 1996. However, between 1996 and April 2008, food
prices have risen in total at a similar rate to overall inflation: 31% and 27% respectively in the EU, and 30% and 27% respectively in the euro area.
These figures come from Eurostat, the Statistical Office of the European Communities.

Annual increases of food prices ranged from 3.2% in Portugal to 25.4% in Bulgaria

The weight of food in the all-items HICP reflects the share of food purchases in household consumption expenditure. This share is 14.6% at the EU level. The weight of food in the index varies
from 9.5% in the United Kingdom and 9.7% in Luxembourg, to 34.5% in Romania and 23.2% in Lithuania.
In April 2008, the highest yearly increases in food prices were found in Bulgaria (25.4%), Latvia (21.7%), Estonia (18.3%) and Lithuania (18.1%).

The lowest increases were registered in Portugal (3.2%), Netherlands (5.4%), France (5.5%), Cyprus (5.8%) and Italy (5.9%).
The impact of food prices on overall annual inflation depends on both the weight of food in the all-items HICP and the annual price changes for food, and therefore differs significantly between
Member States. The largest upward impacts from food prices on overall annual inflation in April 2008 were found in Bulgaria ( 3.4 percentage points), Lithuania and Romania (both 1.9 pp), while
the smallest upward impacts were recorded in Portugal ( 0.1 pp) and Luxembourg ( 0.2 pp).

Annual price changes for all-items HICP and food, %

HICP

Food

Apr 07
Apr 06

Apr 08
Apr 07

Index
Apr 08
(2005 = 100)

Weight, %

Apr 07
Apr 06

Apr 08
Apr 07

Index
Apr 08
(2005 = 100)

Impact
(percentage points)
Apr 08

EU

2.2

3.6

108.1

14.6

3.4

7.1

112.5

0.6

Euro area

1.9

3.3

107.6

14.4

2.5

6.2

110.9

0.5

Belgium

1.8

4.1

108.5

16.0

4.9

6.1

113.7

0.4

Bulgaria

4.4

13.4

127.7

22.9

4.5

25.4

144.1

3.4

Czech Rep.

2.7

6.7

111.4

17.1

4.7

9.9

115.1

0.6

Denmark

1.7

3.4

107.1

13.7

5.4

7.5

114.3

0.6

Germany

2.0

2.6

106.3

10.6

2.8

6.4

111.0

0.4

Estonia

5.6

11.6

121.9

19.3

9.1

18.3

133.3

1.5

Ireland

2.9

3.3

108.8

12.5

1.7

8.4

112.0

0.7

Greece

2.6

4.4

111.2

16.5

0.7

7.0

113.2

0.5

Spain

2.5

4.2

110.9

19.2

3.2

6.8

113.9

0.7

France

1.3

3.4

106.7

14.8

1.1

5.5

108.3

0.4

Italy

1.8

3.6

107.8

16.6

2.8

5.9

110.1

0.5

Cyprus

1.6

4.3

108.5

16.1

6.7

5.8

118.7

0.3

Latvia

8.8

17.4

134.1

22.0

12.5

21.7

145.1

1.3

Lithuania

4.9

11.9

120.9

23.2

10.2

18.1

136.3

1.9

Luxembourg

2.5

4.3

109.8

9.7

2.9

6.3

111.4

0.2

Hungary

8.7

6.8

118.7

17.2

13.4

14.8

137.8

1.6

Malta

-1.1

4.1

107.2

15.9

0.3

9.7

113.6

1.0

Netherlands

1.9

1.7

105.8

12.4

1.3

5.4

108.2

0.5

Austria

1.8

3.4

107.1

11.5

4.3

7.6

112.7

0.5

Poland

2.2

4.3

107.7

20.9

4.6

6.8

112.2

0.6

Portugal

2.8

2.5

108.5

18.0

3.6

3.2

109.1

0.1

Romania

3.8

8.7

119.5

34.5

-0.3

12.4

118.2

1.9

Slovenia

2.9

6.2

111.8

15.8

6.4

12.2

120.5

1.1

Slovakia

2.0

3.7

109.9

16.1

4.3

7.9

114.9

0.8

Finland

1.5

3.3

106.5

14.0

3.0

6.4

111.5

0.5

Sweden

1.6

3.2

106.5

13.6

3.0

6.8

110.2

0.5

United Kingdom

2.8

3.0

107.6

9.5

6.0

7.2

113.6

0.4

Milk, cheese and eggs prices rose by 15% between April 2007 and April 2008 in the EU

Among the nine food classes, the three main classes at EU level are meat, bread & cereals and milk, cheese & eggs. They make up 60% of the food component. In April 2008, the annual
price increase in the EU was 14.9% for milk, cheese & eggs, 10.7% for bread & cereals and 4.1% for meat. For the remaining food classes, price changes ranged from -1.2% for vegetables
to 13.2% for oils & fats.
In April 2008, among the Member States, annual price increases for meat ranged from 0.7% in Portugal to 19.1% in Lithuania, for bread & cereals from 6.3% in the Netherlands to 38.4% in
Bulgaria, and for milk, cheese & eggs from 3.4% in Cyprus to 35.4% in Estonia.

Weight in % of HICP and annual price changes in % for food classes, April 2008

Food

Bread
&
cereals

Meat

Fish
&
seafood

Milk, cheese
& eggs

Oils
&
fats

Fruit

Vegetables

Sugar,
jam & chocolate

Other
food
products

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

Weight

Apr 08
Apr 07

EU
Euro area

14.6
14.4

7.1
6.2

2.7
2.6

10.7
9.2

3.7
3.7

4.1
3.6

1.0
1.1

3.3
3.1

2.4
2.3

14.9
14.4

0.6
0.6

13.2
8.3

1.2
1.2

10.7
8.2

1.6
1.6

1.2
2.0

1.1
1.0

4.2
4.1

0.4
0.4

4.2
3.9

Belgium
Bulgaria
Czech Republic
Denmark
Germany
Estonia
Ireland
Greece
Spain
France
Italy
Cyprus
Latvia
Lithuania
Luxembourg
Hungary
Malta
Netherlands
Austria
Poland
Portugal
Romania
Slovenia
Slovakia
Finland
Sweden
United Kingdom

16.0
22.9
17.1
13.7
10.6
19.3
12.5
16.5
19.2
14.8
16.6
16.1
22.0
23.2
9.7
17.2
15.9
12.4
11.5
20.9
18.0
34.5
15.8
16.1
14.0
13.6
9.5

6.1
25.4
9.9
7.5
6.4
18.3
8.4
7.0
6.8
5.5
5.9
5.8
21.7
18.1
6.3
14.8
9.7
5.4
7.6
6.8
3.2
12.4
12.2
7.9
6.4
6.8
7.2

3.3
5.7
3.0
2.5
1.9
3.2
2.5
2.2
3.1
2.3
3.5
3.0
4.3
4.6
2.1
3.2
3.2
2.6
2.3
4.1
3.2
8.2
3.0
2.8
2.6
2.2
1.6

11.5
38.4
23.5
12.1
8.4
25.6
11.9
14.8
10.1
6.6
10.7
11.4
31.9
26.6
8.2
21.6
10.9
6.3
11.0
13.0
9.2
12.3
16.9
19.4
8.3
11.8
8.5

4.5
4.0
4.4
3.0
2.4
5.2
2.9
3.9
5.0
4.3
4.2
4.0
5.9
6.5
2.3
4.0
3.6
2.6
2.8
6.0
4.6
8.9
4.1
4.5
3.1
2.7
2.7

3.1
11.0
5.7
3.2
2.6
12.3
5.7
2.6
3.5
4.7
3.7
2.2
16.1
19.1
5.6
8.4
3.6
1.7
1.7
4.6
0.7
2.9
9.2
4.5
6.7
6.3
4.1

1.0
0.4
0.5
0.6
0.4
0.9
0.4
1.3
2.8
1.3
1.2
0.7
1.1
1.4
0.6
0.2
1.0
0.5
0.3
0.7
3.2
1.1
0.5
0.3
0.7
0.9
0.5

7.0
7.2
5.7
4.2
1.9
4.4
3.8
4.1
2.1
3.6
3.7
0.3
9.8
7.0
0.7
6.8
7.0
3.5
6.1
2.9
2.9
2.5
9.8
2.5
3.5
3.3
4.6

2.2
3.9
3.5
2.3
1.9
4.0
1.6
3.2
2.9
2.4
2.4
3.1
4.4
3.9
1.7
3.6
2.6
1.8
2.1
3.4
2.4
5.7
2.8
3.4
2.7
2.5
1.4

16.9
25.9
19.3
15.2
21.6
35.4
22.2
8.1
16.6
11.1
8.6
3.4
34.3
24.1
14.0
21.3
14.2
16.4
16.1
14.6
14.1
11.4
32.8
14.5
11.3
10.9
15.7

0.4
1.3
0.8
0.4
0.3
0.7
0.3
1.7
0.7
0.4
0.8
0.6
0.8
1.0
0.3
0.9
0.6
0.2
0.4
1.3
0.8
1.9
0.6
0.9
0.3
0.4
0.2

13.4
85.8
18.0
21.6
18.2
30.7
14.9
5.8
2.9
10.3
3.6
5.3
34.4
32.3
10.9
30.0
15.8
12.7
14.4
14.2
11.1
50.2
37.5
22.8
10.7
9.2
15.8

1.1
1.4
1.6
1.0
1.1
1.4
0.9
1.3
1.7
1.1
1.3
1.6
1.5
1.5
0.7
1.3
1.5
1.0
0.9
1.2
1.5
2.2
1.4
1.3
1.2
1.1
0.9

9.3
45.7
11.8
7.1
7.0
30.0
2.0
11.4
10.1
8.8
6.2
22.7
36.8
32.9
6.7
38.6
15.4
9.0
7.6
27.7
5.8
24.1
15.2
21.0
12.8
15.1
7.4

1.6
3.6
1.6
1.9
1.3
1.9
1.8
2.0
1.8
1.4
1.9
2.1
2.0
1.8
0.8
2.0
2.2
1.4
1.3
2.0
1.6
4.0
1.5
1.5
1.6
1.5
1.5

9.7
15.8
17.3
0.8
7.7
0.5
1.1
6.0
1.9
3.1
3.3
1.3
4.2
6.0
2.3
5.9
13.8
0.7
1.3
13.5
17.0
22.7
14.2
12.9
7.4
4.5
3.8

1.1
1.8
1.2
1.6
0.9
1.4
1.1
1.0
0.7
1.1
1.2
0.8
1.5
1.7
0.8
1.2
0.8
1.0
1.0
1.5
0.5
1.8
1.2
1.1
1.4
1.6
1.1

2.8
6.2
6.6
6.3
6.0
11.9
9.7
4.4
3.8
4.8
2.1
2.4
11.2
5.9
3.7
1.6
1.6
2.0
4.7
0.4
1.9
2.0
4.6
1.1
5.2
3.6
6.2

0.7
0.6
0.6
0.5
0.5
0.5
0.9
0.1
0.4
0.6
0.0
0.3
0.5
0.8
0.4
0.7
0.4
1.3
0.4
0.8
0.2
0.6
0.6
0.5
0.4
0.7
0.2

6.9
11.9
7.2
4.6
3.8
8.5
5.1
4.1
8.0
3.8
3.1
0.9
17.2
11.9
4.1
8.5
1.9
0.1
3.1
5.1
1.6
3.2
8.7
8.1
3.7
3.2
2.3

Highest annual price changes in the EU for all-items HICP and food, 1996-2008

Annual rate,%

Highest annual rate 1997-2008

Total increase since 1996, %

April 2007

April 2008

Month

%

All-items HICP

2.2

3.6

March 2008

3.8

27.2

Food

3.4

7.1

March 2008

7.2

31.1

Bread and cereals

3.6

10.7

April 2008

10.7

33.6

Meat

3.5

4.1

June 2001

8.6

25.2

Fish and seafood

3.5

3.3

June 1998

7.2

46.5

Milk, cheese and eggs

1.5

14.9

April 2008

14.9

31.0

Oils and fats

-3.0

13.2

April 2008

13.2

23.1

Fruit

2.1

10.7

July 2001

11.4

39.7

Vegetables

9.9

-1.2

January 2002

17.5

34.4

Sugar, jam, chocolate etc.

1.9

4.2

April 2008

4.2

25.1

Other food products

1.2

4.2

April 2008

4.2

18.9

Highest annual price changes in the euro area for all-items HICP and food, 1996-2008

Annual rate, %

Highest annual rate 1997-2008

Total increase since 1996, %

April 2007

April 2008

Month

%

All-items HICP

1.9

3.3

March 2008

3.6

27.1

Food

2.5

6.2

March 2008

6.5

29.8

Bread and cereals

2.4

9.2

April 2008

9.2

31.9

Meat

3.3

3.6

June 2001

9.0

26.0

Fish and seafood

2.8

3.1

June 1998

6.9

44.7

Milk, cheese and eggs

0.6

14.4

April 2008

14.4

29.2

Oils and fats

-4.9

8.3

July 2006

12.5

20.5

Fruit

2.2

8.2

July 2001

11.5

37.6

Vegetables

7.6

-2.0

January 2002

18.9

32.4

Sugar, jam, chocolate etc.

1.0

4.1

April 2003

4.3

21.5

Other food products

0.5

3.9

April 2008

3.9

18.2

1. Food (COICOP 01.1) includes those products generally purchased for consumption at home and therefore excludes products sold in hotels, cafés, restaurants and the like.

2. The EU includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY),
Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI),
Sweden (SE) and the United Kingdom (UK).
EU inflation is measured by the EICP (‘European Index of Consumer Prices’ as defined in Council Regulation (EC) No 2494/95 of 23 October 1995) which is the official EU aggregate. The EU
included 15 Member States until 30 April 2004, 25 Member States from 1 May 2004 until 31 December 2006 and 27 Member States from 1 January 2007. New Member States are integrated into the EICP
using a chain index formula.

3. Euro area inflation is measured by the MUICP (‘Monetary Union Index of Consumer Prices’ as defined in Council Regulation (EC) No 2494/95 of 23 October 1995) which is the official euro area
aggregate. New Member States are integrated into the MUICP using a chain index formula. The euro area initially included Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the
Netherlands, Austria, Portugal and Finland. Greece was included from 1 January 2001, Slovenia from 1 January 2007, and Cyprus and Malta from 1 January 2008.
Please note that all April 2008 data for the Netherlands and Austria as well as European aggregates are provisional.