Food prices rise alongside fuel and electricity costs due to energy crisis

by Lorraine Williamson
food prices

While electricity and fuels are the products that are rising the most, food prices are also increasingly affected by the energy crisis. Costs in Spain already rose by 7.6% during the international crisis, reaching their highest level since 1986.  

The price crisis that has been affecting the Spanish economy since last year is increasingly affecting the food sector. The Consumer Price Index (CPI) for February published by the Spanish statistical office INE on Friday showed that food and non-alcoholic beverages are now on average 5.6% more expensive than a year ago.  

The foodstuffs that have seen prices soar as a result of the energy crisis are mainly: olive oil (31% more expensive), pasta (20%), flour (12%), and rice (9.4%). Prices of milk (9.4%), coffee (8.2%), fruit juices (7.5%), eggs (6.6%), and bread (6.4%) also rose. 

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Food prices to start rising as early as November 

Food prices began to rise in November last year, jumping from 1.7% to 3.3%. Since then, the trend has been upwards and the outlook for the future – with the war in Ukraine in the background – is not exactly rosy.  

On the list of products and services with the highest price increases, energy products are still the undisputed leaders. Electricity bills in February were 80.5% higher than a year earlier, diesel cost 28.4% more and petrol 25.1%.  

These food have significantly prices

Of the 20 products that have risen the most compared to last year, 11 are food and drink products. Particularly noticeable are price increases for olive oil (30.6%); pasta (19.9%); flour (11.7%); baby food (10.5%); canned fruit (9.5%); rice (9.4%); milk (9.4%); jam, marmalade and honey (8.7%) and coffee (8.2%). However, fruit juices (7.5%), sauces and condiments (7.1%), chocolate (7.1%), eggs (6.6%), bread (6.4%), beef (6.4%), pulses and dried vegetables (6.4%), butter (6.3%), poultry (6.2%) and tea (5.5%) also rose sharply in price. 

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