How Expensive Your Favourite Cookies Have Become
With the inflation calculator from WIFO and Standard, the ingredients can also be weighted differently. The diagram reveals how much your own recipe for your favourite cookie has become more expensive.
In his article, standard data journalist Michael Matzenberger describes how different products can experience different price developments. On the one hand, this is because the goods require varying amounts of labour or energy to manufacture. And, of course, it is due to the price of raw materials, which is sometimes subject to complex market dynamics. For example, there is a need for asymmetric price adjustments, as WIFO economist Franz Sinabell explains: "If wheat prices rise on international markets, the prices of flour in Austrian stores also rise after a slight delay. If prices on the raw materials markets fall, food prices in grocery stores also fall – but to a lesser extent. This is because higher transport costs, higher rents, and higher wages have been factored into the calculation of food prices in the meantime."
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