Food prices will increase by 2.5 percent this year and about 2 percent next year in Finland, according to the forecast published by the Pellervo Economic Research institute (Pellervon taloustutkimus- PTT) on Thursday.
The ongoing economic uncertainty, difficult employment situation and poor consumer confidence promoted the Finnish people to think about reducing consumption and saving money from their grocery budget, said the forecast.
Food prices will rise due to increasing labour cost in domestic food market and price hike of the imported products and raw materials for example coffee and cocoa.
Meat and milk prices are also raising and continue to rise until the end of the year.
In August, the consumer price of beef increased by 13 percent compared to the stipulated month of the previous year.
However, the prices of poultry and pork decreased.
- Food prices
- To rise 2.5%
- Finland
- 2025
Source: www.dailyfinland.fi
