Cooking is an expensive pleasure! Since the inflation wave in September 2021, the prices of cheap food have risen dramatically. Particularly blatant: penne pasta and flour became around 90 percent more expensive, tea butter and sunflower oil became around 64 percent more expensive.
Since the inflation wave in September 2021, cooking has become a real cost trap for many, as basic foods such as eggs, bread and milk are hit hard by inflation. For example, anyone who makes penne with pureed tomatoes now has to dig deeper into their pockets. Even for a quick meal it is getting steep: a simple Margherita pizza or fish fingers from the freezer now cost considerably more than three years ago.
Concretely: Since September 2021, there have been almost only price increases – of the 40 cheap food and cleaning products checked by the Chamber of Labor, only heavy-duty liquid detergent has become cheaper (minus five percent). However, important food products have all become more expensive (see graph).
Prices also remain high compared to the previous year, as shown by the current AK price monitor in seven Viennese stores: the same shopping basket with relatively cheap products (no expensive branded items) was increased by an average of 3.2 percent between September 2023 and 2024 at all the retail chains examined. Classic supermarkets also charge an average of 9.2 percent more than discounters.
The next government must ensure affordable food
“People need to be able to afford to live,” says Gabriele Zgubic, head of AK consumer policy. “Prices are still high, they just aren’t rising as much. The next federal government needs to do everything in its power to make sure food remains affordable.”
The consumer advocate therefore calls for a fairness package for affordable food from the new federal government:
- an independent anti-inflation commission that monitors prices
- Abolish the unfair Austrian surcharge on branded food.
According to Statistics Austria, food inflation fell to 1.4 percent in August, compared to August of the previous year. But this 1.4 percent does not mean a reduction, but rather is added to the prices of the already expensive food.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
