Sections
Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Cattle - Hogs / Livestock News
Interest Futures News
Metals Futures News
Reports: Crops, CFTC, etc
Soft Commodities News

Futures and Commodity Market News

ECB Warns Of Food Inflation Effects On Eurozone

Jun 22, 2022 (MENAFN via COMTEX) --

(MENAFN - AzerNews)

By Trend

Food inflation in the eurozone is likely to remain high due tothe Russia-Ukraine crisis and the surge in global commodity prices,according to the European Central Bank's (ECB) monthly EconomicBulletin published on Tuesday, Trend reports citing Xinhua .

The significant increase in food inflation since mid-2021 hasbeen driven primarily by the rise in international food commodityand energy prices, which was only accelerated by the Ukrainecrisis, the bank said.

The strong repercussions of the crisis for the eurozone areexplained by 'its direct impact on production and export capacityin Ukraine and by trade restrictions and increased uncertainty inUkraine, Russia and Belarus,' the report said.

The ECB said it was concerned that access to certain foodcommodities, such as maize, oil seed, wheat and sugar, which theeurozone countries mainly import from the regions affected by thecrisis, especially from Ukraine, is and will be negatively affectedover the longer term.

Moreover, the eurozone 'imports more than a quarter of itsfertilizer from the affected region, which is difficult to replacefrom other sources.'

'Differences in HICP (Harmonized Index of Consumer Prices) foodinflation among eurozone countries may widen further goingforward,' since small open economies are more exposed tofluctuations in international commodity markets, the reportsaid.

---

Follow us on Twitter @AzerNewsAz

MENAFN22062022000195011045ID1104416832

comtex tracking

COMTEX_409077297/2604/2022-06-22T15:42:56

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.


Extreme Futures: Movers & Shakers

Hottest

Actives

Gainers

Today's Hottest Futures
Market Last Vol % Chg
Loading...

close_icon
open_icon