Agricultural commodities, prices slowing down in Europe. But not everywhere

The increases in agricultural commodities slow down in the second quarter of 2023. Data from the European statistical institute Eurostat referring to the European Union indicate an average increase rate of 2% for the period between March and June, compared to the 17% recorded in the first three months of the year. In a context therefore characterized by a partial easing of inflationary pressures, citrus fruits (+89%), olive oil (+48%) and potatoes (+38%) go against the trend, instead recording price increases that are out of scale compared to the data middle European. According to Eurostat, this "anomaly" is due to the drought that hit some regions of the Mediterranean basin, specialized in fruit and vegetable and olive oil crops. Portugal (+22%), Greece (+21%) and Spain (+16%), in fact, are the countries where agricultural inflation continued to gallop even in the second quarter.

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