Within the European Union, comprising 27 nations, butter prices surged by an average of 19% from October 2023 to October 2024, hitting hard in Slovakia with a 49% hike, and in Germany and the Czech Republic with increases around 40%, based on figures provided by the EU commission.
The surge in prices is due to a global milk shortage, resulting from declining production, including in the United States and New Zealand, one of the world's largest butter exporters, says Mariusz Dziwulski, a food and agricultural market analyst at PKO Bank Polski in Warsaw.
Butter prices have soared by nearly 20% in Europe - what it means for shoppers In his Paris patisserie, pastry chef Arnaud Delmontel diligently crafts croissants and pain au chocolat that come out of the oven perfectly golden and fragrant.
European butter, typically higher in fat content than its American counterpart, is sold by weight in standard sizes, preventing food producers from concealing price increases by reducing package sizes, a tactic known as " shrinkflation.
After enduring post-pandemic inflation, exacerbated by the conflict in Ukraine, the skyrocketing butter prices add further strain on consumers, particularly as they prepare for holiday baking.
