The inflation rate for food and non-alcoholic beverages in the European Union reached a peak of 17.9 percent in November 2022, after which it has fallen significantly to 5.9 percent in December 2023.
Harmonized index of consumer prices (HICP) inflation rate for food and non-alcoholic beverages in the European Union from January 1997 to December 2023
The Harmonized Index of Consumer Prices (HICP) gives comparable measures of inflation for the countries and country groups for which it is produced. It is an economic indicator that measures the change over time of the prices of consumer goods and services acquired by households. In other words, it is a set of consumer price indices (CPIs) calculated according to a harmonized approach and a set of definitions as laid down in Regulations and Recommendations.
The HICP comprises all products and services purchased in monetary transactions by households, both resident and non-resident (i.e 'domestic concept'), within the territory of a country. Some categories of ECOICOP are excluded either in principle or on practical grounds from the HICP coverage:
02.3 Narcotics
04.2 Imputed rentals for housing
09.4.3 Games of chance
12.2 Prostitution
12.5.1 Life insurance
12.6.1 Financial intermediation services indirectly measured (FISIM)
The main index reference period currently used is 2015. (2015=100)
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Eurostat. (February 1, 2024). Harmonized index of consumer prices (HICP) inflation rate for food and non-alcoholic beverages in the European Union from January 1997 to December 2023 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1286407/eu-food-inflation-rate/
Eurostat. "Harmonized index of consumer prices (HICP) inflation rate for food and non-alcoholic beverages in the European Union from January 1997 to December 2023." Chart. February 1, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1286407/eu-food-inflation-rate/
Eurostat. (2024). Harmonized index of consumer prices (HICP) inflation rate for food and non-alcoholic beverages in the European Union from January 1997 to December 2023. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1286407/eu-food-inflation-rate/
Eurostat. "Harmonized Index of Consumer Prices (Hicp) Inflation Rate for Food and Non-alcoholic Beverages in The European Union from January 1997 to December 2023." Statista, Statista Inc., 1 Feb 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1286407/eu-food-inflation-rate/
Eurostat, Harmonized index of consumer prices (HICP) inflation rate for food and non-alcoholic beverages in the European Union from January 1997 to December 2023 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1286407/eu-food-inflation-rate/ (last visited November 10, 2024)
Harmonized index of consumer prices (HICP) inflation rate for food and non-alcoholic beverages in the European Union from January 1997 to December 2023 [Graph], Eurostat, February 1, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1286407/eu-food-inflation-rate/
