Point of view: European consumer meat prices decelerate in March, except for pork

While food inflation remained buoyant in March, prices for beef, veal and poultry meat are marking a retreat or pause. On the other hand, consumer pork prices are back on the rise in Spain, Denmark and France, against a backdrop of falling supply.  

After closing 2022 on a strong upward trend, food prices continued their ascent in the first quarter of 2023, with strong growth of over 20% in Germany, Belgium and the Baltic States. In March, food inflation in the EU 27 slowed to +19.6%, compared with +19.5% in February, benefiting from an easing in energy prices. However, food prices remain at a relatively high level, since inflation had already begun to take hold in March 2022 (+6.9% in March 2023/2022 in the EU27). France is the exception, however, with food inflation only +3.4% in March 2023 compared to 2022. Food is now the main contributor to overall inflation, which reached +8.3% in the EU27 and +6.7% in France in March.

Harmonized