Christmas Dinner
In the UK, Ireland, France, and Germany, poultry like turkey, goose, or duck typically takes center stage on the Christmas table. However, the rising cost of grain, fueled by the conflict in Ukraine, higher transportation and processing expenses, and increased labor costs, has affected these proteins. Bird flu problems have also contributed to higher costs for poultry producers across Europe. Farmed salmon production has been hit by pests and diseases, while wild fish stocks are strained due to increased demand and the climate crisis.
The price of poultry in the UK has increased by 5% compared to last year and a staggering 30% compared to 2020, leading to a more expensive dinner for many families. Ireland and France experience similar price hikes, with poultry costing around 25% more than three years ago. Germany sees a slight decrease in price compared to last year, but it is still 43% more expensive than the 2020 festive season.
In Norway, where pork ribs or belly are popular Christmas dinner choices, families can expect to pay 10% more this year and 34% more than in 2020. Denmark, on the other hand, has only experienced a 12% increase in the cost of pork since 2020.
In Eastern Europe, carp is a favorite Christmas centerpiece, and the price of fish in Hungary and Poland has risen by over 60% compared to the same period in 2020 due to increased feed prices, the loss of Ukrainian labor, and restricted former export markets caused by Russia’s invasion of Ukraine. The Czech Republic has seen a less steep increase in fish prices, but they are still 16% higher than three years ago.
The climate crisis has resulted in unfavorable weather conditions across Europe, such as sodden fields in the UK and drought in southern countries like Spain. As a result, vegetable prices have increased by an average of 30% in the EU and the UK since 2020. In Spain, prices rose by 13% compared to last year, reflecting the extreme weather the region has faced.
Chocolate
Those with a sweet tooth will face another challenging year as chocolate prices in the EU have risen by 22% since 2020. Cocoa prices have reached their highest level since the 1970s due to poor harvests in Ghana and Cote D’Ivoire, two major cocoa-growing countries. Flooding in Cote D’Ivoire has further exacerbated the problem, along with land availability, disease, and fertiliser access issues. The cost of sugar, packaging, and transport has also contributed to the rise in chocolate prices.
In Hungary, prices have surged by 56% since 2020, reflecting wider food price inflation and local economic challenges. Sweden has seen an 18% increase in prices, potentially leading residents to cut back on their chocolate purchases this Christmas.
Cocoa farmers are facing increasingly difficult conditions due to the climate crisis, which means retail prices are unlikely to fall any time soon.
Books
In the UK, the average price of a paperback is expected to reach £12 next year, surpassing last year’s figure of £10 and reflecting one of the highest rates of book inflation in Europe. Increased paper and transportation costs, as well as higher printing costs in China, have contributed to this inflation. Booksellers anticipate a shift towards more affordable paperbacks as presents.
In some countries like Ireland and Denmark, book prices have decreased since 2020 as consumers curb spending in response to high prices across the economy.
Booze
Alcohol plays a significant role in making Christmas merry for many Europeans, whether it’s snaps in Sweden, glühwein in Germany, or gin in Great Britain. Rising glass production costs and difficulties in growing crops for alcohol production, such as grain and grapes, have led to increased prices.
Hungary has seen the highest inflation on alcohol, with prices up 37% since 2020. Italy and Sweden have recorded smaller impacts, with prices up around 10%. The UK falls in the middle with a 16% price increase compared to 2020, despite concerns about post-Brexit wine price hikes.
Travel
People driving home for Christmas will face steep fuel cost increases this year. Russia’s invasion of Ukraine caused fuel prices to soar in several countries, making driving home a more expensive choice than in previous years. Recent oil tanker traffic restrictions in the Red Sea may help keep prices high.
Hungary, heavily reliant on Russian oil, has experienced the largest fuel price increase since 2020. The UK has seen lower fuel price rises, partly due to the government freezing planned tax increases and increased scrutiny by competition watchdogs.