Abstract
Since the COVID-19 pandemic and the Russia–Ukraine War, global food markets have been in turmoil. Agricultural input and energy prices doubled between 2020 and 2022, with immediate consequences on food accessibility. We examine the drivers of the EU food inflation patterns, and how trade integration shapes these dynamics. We find that food price inflation has been mainly driven by surges in agricultural production costs and, to a lesser extent, by global food price increases. Trade openness has not exacerbated the inflating dynamics during this period. We conclude
with reflections on inflationary, production, and trade policies.
Baležentis, T.; Santeramo, F.; Kornher, L. 2024. EU food price inflation amid global market turbulences during the COVID-19 pandemic and the Russia–Ukraine War. Applied Economic Perspectives and Policy : Wiley. ISSN 2040-5790. eISSN 2040-5804. p. 1–22. DOI: 10.1002/aepp.13483. [Scopus; Science Citation Index Expanded (Web of Science)].