The annual consumer price index in the EURO zone was 5.1 percent in January 2022, up from 5.0 percent in December 2021. In France inflation was lower, with the annual consumer price index up 2.9 percent in January 2022, compared with 2.8 percent in December 2021. The increased cost of energy and services is contributing to upward pressure on production costs both at sea and on land. Combined with higher transport costs (especially for imported frozen products from Latin America and Asia), these drivers are propelling prices rapidly upwards at a time of year when the market usually slows down.

On the positive side, COVID-19 measures are being lifted in all major European countries, and the return to restaurant dining is having a positive impact on demand for fish products. At the same time, the return to work also means more consumption at canteens, which is another major outlet for fishery products.

Read on issuu: