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The cost of food in Austria is constantly rising - financial experts advise economical budgeting.
Austrian households spend an average of 350 euros per month on food, which corresponds to around twelve percent of their total expenditure. In comparison, this proportion was 50 percent in the 1950s. Prices for food have risen by around 25 percent compared to the previous year, with meat becoming more expensive by more than six percent, bread and pastries by almost twelve percent and vegetables by almost eleven percent. Butter, on the other hand, became 17 percent cheaper. This information comes from the report by Agriculture Minister Norbert Totschnig (ÖVP) on national food supply security. According to a report from www.derstandard.at, Given the rising food prices in Austria...
The cost of food in Austria is constantly rising - financial experts advise economical budgeting.
According to a report by www.derstandard.at,
Given the rising food prices in Austria, inflation is expected to increase. Since food is a key component of the consumer price index, increased inflation could lead to a reduction in consumer purchasing power. This, in turn, could have a negative impact on consumption and economic growth.
In addition, rising food prices could lead to increased demand for cheaper alternatives, e.g. B. to increased consumption of non-animal proteins or local and seasonal products. This could impact the agri-food industry as production and sales patterns change.
Overall, the government, financial and agricultural sectors should closely monitor developments in the food sector and, if necessary, take measures to stabilize prices and secure food supplies.
Read the source article at www.derstandard.at