LUXEMBOURG – Luxembourg is doing quite well when it comes to soaring food prices. In Eastern Europe, consumers are suffering more.
Recent increases in food prices weigh more heavily on people living in the east of the EU than those in the west. This is what Eurostat indicates. In Lithuania, prices increased by 22.1% in April compared to the previous year. Bulgaria (21%), Latvia (17.7%) and Hungary (17.3%) were also significantly above the European average of 8.9% price increase. For their part, Luxembourg consumers had to spend an average of 5.5% more on food and drinks, while prices only increased by 3.6% in Ireland.
Eastern Europeans suffer more from rising prices anyway, as they already had to spend a relatively large part of their income on food. Thus, a Romanian household devotes 28.3% of its budget to food, against only 10.9% in Luxembourg. The European average is 15.9%. These differences are explained by the different levels of income as well as by the situation of competition in food distribution. Only the Irish spend proportionately less than the Luxembourgers.