Rising food prices can be a headache not only for households in the eurozone but also for the European Central Bank. While overall inflation has normalised and sits close to the ECB’s 2% medium-term target, food inflation "since 2022 is clearly exceptional and persistent", said the central bank in a recent blog post.
According to the report, consumers pay roughly a third more than before the COVID-19 pandemic to put a meal on the table. The bank added that food prices have increased by more than 40% since 2015, influencing the ECB's rate decisions.
