Az élelmiszerár-infláció meghatározó tényezői az Európai Unió 27 tagállamában

Jeremiás Máté Balogh; Balázs Sárvári

doi:10.32976/stratfuz.2025.6

Authors

Jeremiás Máté Balogh Corvinus University of Budapest
Balázs Sárvári Metropolitan University Green Transition Institute

DOI:

https://doi.org/10.32976/stratfuz.2025.6

Keywords:

food prices, oil prices, food inflation, European Union, panel estimation

Abstract

The objective of our research is to investigate the main determinants of food price inflation in the European Union 27 Member States between January 2001 and May 2022. Our research focuses on the role of oil prices, exchange rate volatility, and the impact of the Russian-Ukrainian war that started in February 2022. We compiled a strongly balanced panel dataset based on monthly values. Based on the a priori test results Random Effects (RE), linear regression with panel-corrected standard errors (PCSE), cointegration regression using fully modified ordinary least squares (FMOLS), and dynamic ordinary least squares (DOLS) regression methods were applied. Our result shows that both the increasing crude oil prices and the fluctuating exchange rates stimulated significantly food price inflation in the EU-27. Data demonstrates that Russia’s war against Ukraine also contributes to increasing food prices in the EU-27. In this regard, we provide country-level analysis as well.

Author Biographies

Jeremiás Máté Balogh, Corvinus University of Budapest

Associate Professor, Corvinus University, Department of Agricultural Economics

Balázs Sárvári, Metropolitan University Green Transition Institute

Research Fellow, Metropolitan University Green Transition Institute

Assistant Professor, Institute of Economics, Corvinus University of Budapest

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