Copenhagen, March 15 (SocialNews.XYZ) Food prices in Denmark increased by 5.7 per cent in February compared to the same month last year, due to rising energy costs, according to official data.
The data published by Statistics Denmark on Monday revealed that consumer price index increased 4.8 per cent year-on-year in February owing primarily to rising energy prices and global shortages, reports Xinhua news agency.
Between February 2021 and February 2022, the price of butter increased 16.3 per cent, that of cooking oils went up 20 per cent, while that of pasta surged to an astounding 24.3 per cent.
Prior to the current spike in food prices, the last significant increase, 5 percent, was registered in 2012, Statistics Denmark said.
"Food manufacturers rely heavily on heating and petrol. As a result, food prices are highly correlated with energy prices," Danish news agency Ritzau quoted Marie Moesby, consumer economist at Nordea Bank, as saying.
"Another reason is that global shortages have occurred as a result of the Covid-19 pandemic. Shutdowns harmed some producers by preventing them from growing and transporting their produce.
"This had a pronounced effect on the price of cooking oils," she said.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
