Price of sugar in Bulgaria rose 36% in a year – Eurostat

The price of sugar in Bulgaria was 36 per cent higher in March 2023 than it had been in March 2022, European Union statistics agency Eurostat said on April 28.

But this was by no means the largest increase on an annual basis.

In March 2023, the highest increases in annual inflation for sugar were recorded in Czech Republic (98 per cent), Estonia (97 per cent), Poland (82 per cent), Germany (72 per cent), and Latvia (70 per cent), while smaller but still considerable increases were registered in Hungary (17 per cent), followed by Luxembourg (19 per cent), Belgium (35 per cent), Bulgaria (36 per cent) and Ireland (37 per cent).

With food prices increasing substantially over 2022, sugar has been one of the food products with the highest price hike, Eurostat said.

Monthly data indicates a continuous increase in the annual rates of change starting August 2021, reaching 61 per cent in February and March 2023, meaning that sugar prices in the EU in those two months were, on average, 61 per cent higher than in the same months of 2022.

The annual rate of change for March 2022 was almost six times lower (11 per cent), and the difference is even more sizeable two years back, in March 2021, when the rate was 1.6 per cent, Eurostat said.

(Photo: Pixabay)

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