Price explosion: Food up to 37% more expensive!

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The daily purchase is around 15 percent more expensive than the previous year. There is a real price explosion for food. Inflation is not expected to slow down somewhat until 2023.

In November, the price of a packet of butter was 37 percent higher than in the previous year. The price of cooking oil rose by an average of almost 27 percent. Milk, cheese and eggs cost 21 percent more, followed by meat and soft drinks (+16 percent each), bread and vegetables (+15 percent each). Comparatively modest was the increase with fruit with 5.5 percent, determined now the statistics Austria.

Wifo expert explains the price explosion
The bottom line is that we had to dig 14.4 percent deeper into our pockets for daily purchases than in 2021. This is measured in the so-called micro goods basket, which includes 20 everyday items such as pastries, potatoes, Gouda cheese, bottled beer, and frozen pizza to the melange in the coffee house. “It is now the high energy and raw material prices, for example of cereals, rolled over,” explains Wifo expert Josef Baumgartner the price explosion.

Their increase is striking: In January, the price of the micro goods basket increased by only 4.1 percent; in September, it was already 11.5 percent, and now it is almost 15 percent. Baumgartner suspects that some manufacturers are overcharging, “but the data is too thin. At least, he believes that the upward price trend will slowly weaken.

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