{"id":102918,"date":"2022-03-09T08:30:00","date_gmt":"2022-03-09T06:30:00","guid":{"rendered":"https:\/\/balticguide.ee\/?p=102918"},"modified":"2022-03-08T22:53:02","modified_gmt":"2022-03-08T20:53:02","slug":"food-and-energy-prices-no-longer-predicted-to-reduce-because-of-the-conflict-in-ukraine","status":"publish","type":"post","link":"https:\/\/balticguide.ee\/en\/food-and-energy-prices-no-longer-predicted-to-reduce-because-of-the-conflict-in-ukraine\/","title":{"rendered":"Food and energy prices no longer predicted to reduce because of the conflict in Ukraine"},"content":{"rendered":"\n<p class=\"p1\" style=\"text-align: left;\">&nbsp;<\/p>\n<p class=\"p1\" style=\"text-align: left;\">Analysts previously predicted that the cost of energy would begin to decrease in the second half of 2022, with the lowering of energy prices and transition out of the pandemic slowly reducing food prices. However, Russia\u2019s invasion of Ukraine and the uncertainty this has caused will mean prices will likely continue to rise.<\/p>\n<p class=\"p1\" style=\"text-align: left;\"><span class=\"s1\">\u201cIt is certain that the predictions made at the beginning of the year are no longer valid, and inflation will remain very high throughout the year. Today, it is extremely unclear to what extent Russia&#8217;s gas and oil supplies to Europe will continue. Oil prices have reached record highs,\u201d explained <strong>Mihkel Nestor<\/strong>, economic analyst&nbsp;at SEB.<\/span><\/p>\n<p class=\"p1\" style=\"text-align: left;\"><strong>Krista Aab<\/strong>, an <span class=\"s1\">economic analyst&nbsp;at LHV, explains a different aspect of the conflict, \u201cmilitary action threatens to destroy this year&#8217;s crop in Ukrainian fields and supplies of various industrial metals in Europe. &#8220;<span class=\"Apple-converted-space\">&nbsp;<\/span><\/span><\/p>\n<p class=\"p1\" style=\"text-align: left;\"><span class=\"s1\">Ukraine produces around 15 per cent of the world&#8217;s grain, with Russia producing a similar amount. The conflict has already caused the price of grain to rise on global markets by 50 per cent.<\/span><\/p>\n<p class=\"p1\" style=\"text-align: left;\"><span class=\"s1\">According to Nestor, it is likely that the Estonian government will bring in measures to try and reduce the effects of rising prices for consumers. However, it is possible that price rises could still exceed wage increases.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/span><\/p>\n<p class=\"p4\" style=\"text-align: left;\"><span class=\"s2\">Source <a href=\"https:\/\/www.err.ee\/1608523421\/analuutikud-hinnatousu-aeglustumist-enam-ei-prognoosi\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #0000ff;\">ERR<\/span><\/a>&nbsp;<\/span><\/p>\n<p class=\"p1\" style=\"text-align: left;\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Analysts previously predicted that the cost of energy would begin to decrease in the second half of 2022, with &hellip; <span class=\"read-more-excerpt\">Read more<\/span><\/p>\n","protected":false},"author":10,"featured_media":102919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"ngg_post_thumbnail":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[42,50],"tags":[14237,13072,13746,13912,14167,14234,14235,14236],"class_list":["post-102918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shopping-en","category-estonia","tag-krista-aab","tag-estonia-2","tag-energy-prices","tag-food-prices","tag-ukraine-invasion","tag-russia-invasion-of-ukraine","tag-mihkel-nestor","tag-ukraine-conflict"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/posts\/102918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/comments?post=102918"}],"version-history":[{"count":2,"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/posts\/102918\/revisions"}],"predecessor-version":[{"id":102925,"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/posts\/102918\/revisions\/102925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/media\/102919"}],"wp:attachment":[{"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/media?parent=102918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/categories?post=102918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/balticguide.ee\/en\/wp-json\/wp\/v2\/tags?post=102918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}