Eurostat Report: Bulgaria Among Few EU States Witnessing Coffee Price Hike in 2024

In March 2024, the annual increase in the consumer price of coffee in the EU decelerated to 1%, a notable slowdown compared to March 2023, when it surged by 13.5%. This rate is now nearing the level observed in July 2021, when prices rose by 0.8%, as per data from Eurostat, the official European statistics agency.

The inflation rate for coffee has been steadily decreasing since October 2022, following a significant spike in prices of 17.4% initiated in October 2021.

Despite the overall slowdown in coffee price growth across the EU, there are considerable disparities among member states. In 15 EU countries, coffee price inflation was higher in March 2024 compared to the same period in 2023. Croatia saw the most significant increase in the price of coffee, rising by 7.4%, followed by Romania with 6.8%, and Bulgaria with 6.6%, according to Eurostat.

Conversely, in the remaining 12 EU member states, coffee prices declined in March 2024 compared to the previous year. The most notable decreases were observed in Finland, where prices dropped by 15.5%, and Lithuania, which experienced a decline of 15.4%. Other notable decreases were recorded in Denmark (down 7.5%), the Czech Republic (down 6.5%), and Sweden (down 6.0%).