Eurostat: Increase in cocoa prices in EU slows

In May 2024, the consumer price of cocoa and powdered chocolate in the EU was 6.3 per cent higher than in May 2023, European Union statistics agency Eurostat said on July 4.

The consumer price of cocoa and powdered chocolate, already on the rise since early 2022, saw a significant acceleration in the last quarter of 2022, with annual inflation rates exceeding 10 per cent, Eurostat said.

The increase peaked in May 2023, with an inflation rate of 18.5 per cent relative to May 2022.

While prices have been rising more slowly since then, the inflation rate did not fall below 10 per cent until February 2024.

In May 2024, most EU countries reported an increase in the annual inflation rate for cocoa and powdered chocolate.

The highest increases were recorded in Estonia (17.4 per cent compared with May 2023), followed by Croatia (15.5 per cent) and Austria (12.6 per cent).

In Bulgaria, the increase was 5.9 per cent, below the EU average, according to Eurostat.

Two countries recorded a decrease in the inflation rate for cocoa and powdered chocolate: Slovakia (-6.3 per cent) and Cyprus (-0.3 per cent), Eurostat said.


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