Development of Food Prices in Austria

The rapid economic recovery following the severe recession caused by the COVID-19 pandemic is showing frictions along important value chains. Due to bottlenecks in the transport system and because the supply of raw materials and agricultural goods cannot fully meet the rapidly rising demand, the prices of many goods have risen (in some cases very) strongly since the second half of 2020. Traditionally, food prices react with a certain delay to changes in the prices of agricultural commodities.