Only about two-thirds of the rise in food prices in Europe can be attributed to increases in the cost of ingredients, the European Commission said on Tuesday.

Mariann Fischer Boel, the agriculture commissioner, released figures showing that the cost of many staples had gone up by more than the value of basic commodities used to make them. Bread increased 10 per cent between February 2007 and 2008, while the near-doubling of the price of wheat should have led to only a 3 per cent rise, the Commission said.

“Energy, transport and labour costs have risen. But it is possible that somewhere along the food chain someone may be doing well out of this. We are not drawing conclusions; we are just presenting facts. ... Read full article