Food prices

Food prices in Bulgaria are the highest for the last 5 years. Prices of most products have risen to a record high during the pandemic, data from the State Commission on Commodity Exchanges and Markets show.

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) is set to present a report on ways to curb rising food prices to the authorities, an executive of the union has said.

Stockpiling prompted by the pandemic, price hikes in raw materials, exchange rate volatility, increasing input costs, and speculative acts are among the reasons for food price inflation in Turkey, according to sectoral professionals.

The UN Food and Agriculture Organization (FAO) food price index also predicted that cereal production would be 2.704 billion tonnes in 2019, slightly lower than its last forecast.

World food prices rose for the first time in five months in October, boosted by jumps in quotations for sugar and cereals, the United Nations food agency said on Thursday.

Romania's annual inflation rate fell to 2.3% in May 2020, from 2.7% in April, given that food prices rose by 5.25% , services by 2.6%, and non-food goods by 0.15%, according to data released on Friday by the National Institute of Statistics (INS). Consumer prices in May 2020 compared with April rose by 0.05%, and compared with December 2019 they advanced 1.47%.

World food prices declined in April for the third month in a row, affected by the economic and logistical negative impact of the coronavirus pandemic, the UN Food Agency reported on Thursday, BNR reported, citing Reuters.

Global food prices hit a five-year high in December, the UN Food and Agriculture Organization (FAO) said on Jan. 9.

The FAO Food Price Index soared 2.5 percent on a monthly basis, averaging 181.7 last month, due to strong rallies in vegetable oils, sugar and dairy markets, said the FAO.

According to the National Statistical Office, in October the consumer price index in the country increased by 3.8% on an annual basis. At the same time, the growth is 0.8% more than last month.

The National Statistics Institute on October 15 reported an increase in the prices of food and some services as at the end of September on an annual basis. On a monthly, there is a reduction.

The average annual inflation rate for the period is at 2.3%. This shows how much the Consumer Price Index has grown from September 2018 to September 2019.

November 2018 annual inflation rate fell to 3.4pct, from 4.3pct in October, when prices for non-food goods advanced 4.24pct, food prices 2.86pct, while services posted a 2.5-pct advance, according to data released on Tuesday by the National Institute of Statistics (INS).