In 2023, food prices in the European Union continued to rise, following significant increases in 2022.
Data from the second and third quarters of the year indicated a slower rise in the prices of certain items. In September 2023, compared to January 2021 and 2022, the prices of eggs, butter, and potatoes in the EU were higher but had slightly moderated from previous months.
However, the cost of olive oil consistently increased, reaching a 75% rise from January 2021 to September 2023. Potato prices had surged by 53% in September 2023, with a peak in June 2023 at 60% higher.
Egg prices, 37% higher than January 2021, stabilised in the first half of 2023 and slightly decreased in August and September.
Butter prices reached a peak in December 2022, rising by 44% compared to January 2021, and then gradually decreased, remaining 27% more expensive in September 2023.