Agriculture expects food prices to experience a "slight" drop in the coming months

09/13/2022

Updated at 10:23 a.m.

The escalation in food prices, which have risen by 13.8% in the last twelve months in what is the most significant increase recorded by the INE in the last 38 years, does not show signs of receding in the short term. The Minister of Agriculture, Luis Planas, has confided this Tuesday, minutes after knowing the final data of the CPI for the month of August which has photographed this increase in the cost of the food basket, in which this drift in prices first stabilizes, then experiences a "slight" decrease in the coming months and finally has a significant reduction, although in 2023 at the earliest.

In this context, the Minister of Agriculture has expressly distanced himself from the possibility of imposing price caps on large stores with which Yolanda Díaz has played in recent weeks. Planas has asked hypermarkets and supermarkets for responsibility when determining their pricing policies. "These are not measures imposed on anyone because I believe that they also do not work," she assured.

"What the Government is asking for is the responsibility of each link in the chain and that each one is in their power to ensure that, effectively, we citizens have these reasonable prices," he said. "Citizens obviously expect price containment."

Planas has slipped that in the field a drop in cereal prices has already begun to be appreciated, which skyrocketed in the first bars of the Russian invasion of Ukraine, and also that the FAO food index shows a reduction in price of food products in the last four months. This has not yet reached Spain, which in August saw how the food basket became more expensive another three tenths compared to the month of July.

“You have to be very cautious and very attentive, and above all, also be attentive in responding to issues to effectively help those who need it,” the minister assured in statements collected by Europa Press.

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