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The crazy rise in the price of bread in Belgium

  • Post category:Economy News
  • Reading time:2 mins read

The consequence of the Russian invasion in Ukraine

The evolution of the bread consumer price index (CPI) curve shows a significant increase from February 2022, i.e. when the Russian invasion of the Ukraine (see below). As a reminder, the CPI is a tool that measures the evolution of the average price level.

For the European statistical office Eurostat, the war in Ukraine explains the explosion in the price of bread: “It has significantly disrupted global markets”.

Relatively low inflation compared to our neighbors

However, Belgian bread price inflation remains among the lowest in the European Union and is below the average of 18%. In Hungary, for example, inflation has reached 66%. It is the country hardest hit. This is followed by Lithuania (+33%), Estonia and Slovakia (+32%). Belgian inflation is more similar to that of France, the least affected country (+8%), the Netherlands and Luxembourg (+10%).

This increase in the price of bread is part of a context of general inflation. Bread is not the only product concerned. The price of vegetables, meats and oils has also risen sharply. In Belgium, inflation reached 9.94% in August: unheard of since March 1976.

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