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Inflation & Prices

Inflation Crisis Pulls European Countries Into a Food Fight

  • A number of countries have cut taxes on essential items
  • Cost-of-living crisis has put the squeeze on household incomes
Bloomberg business news
WATCH: ECB President Christine Lagarde says inflation remains “significantly too high.”Source: Bloomberg
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Tax cuts, price caps, tougher scrutiny. Europe’s battle with the worst cost-of-living crisis in a generation is far from over, and food is the latest focal point.

Even as headline inflation starts to ease, the upward pressure on food prices remains firmly in place. That means a large chunk of household spending, the weekly supermarket trip, is rapidly getting more and more expensive. To take just one example, sugar, used in a myriad of products, surged to the highest in more than a decade last week.