Two hands are filled with cocoa beans and below the hands a lot of cocoa beans are lying on a table

In May 2024, the consumer price of cocoa and powdered chocolate in the EU was 6.3% higher than in May 2023. 

The consumer price of cocoa and powdered chocolate, already on the rise since early 2022, saw a significant acceleration in the last quarter of 2022, with annual inflation rates exceeding 10%. The increase peaked in May 2023, with an inflation rate of 18.5% relative to May 2022. While prices have been rising more slowly since then, the inflation rate did not fall below 10% until February 2024.

Inflation rate for cocoa and powdered chocolate in the EU, May 2021 - May 2024. Line graph. See link to full dataset below.

Source dataset: prc_hicp_manr

In May 2024, most EU countries reported an increase in the annual inflation rate for cocoa and powdered chocolate. The highest increases were recorded in Estonia (+17.4% compared with May 2023), followed by Croatia (+15.5%) and Austria (+12.6%).

In contrast, 2 countries recorded a decrease in the inflation rate for cocoa and powdered chocolate: Slovakia (-6.3%) and Cyprus (-0.3%).

Inflation rate for cocoa and powdered chocolate in May 2024. Bar chart. See link to full dataset below.

Source dataset: prc_hicp_manr

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Methodological notes

  • Cocoa and powdered chocolate (01213) includes cocoa, whether or not sweetened, chocolate-based powder and cocoa-based beverage preparations.
  • Latvia and Malta: data not available.

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