Cup of coffee ‘almost a luxury’ in EU as prices soar: Eurostat

ISTANBUL

Coffee prices in the EU were up 16.9% year-on-year in August, according to the latest figures from the bloc’s statistical office.

The soaring cost has made “this morning staple almost a luxury,” Eurostat said in a report released on Thursday.

The price of fresh whole milk was also on average 24.3% higher, while that of fresh low-fat milk increased by 22.2%.

Sugar prices were up 33.4% on annual basis in August, making a single cup of coffee all the more expensive.

Finland saw the highest annual jump of 43.6% in coffee prices, while Hungary posted a 51.7% increase in prices for whole-fat milk, according to Eurostat data.

The highest annual inflation in sugar prices – 109.2% – was recorded in Poland.

• Coffee
• ECB
• European Central Bank
• Inflation
• Luxury
• milk
• Sugar