Food commodity prices, such as for wheat, have fallen back since June, which will ease pipeline food price pressures. Although, here I urge caution: unexpected geo-political events, including in relation to energy inputs, as well as the increased occurrence of extreme climate events, continue to be a significant risk factor for food prices.
Likewise, number 3 establishes that the Union “shall work for the sustainable development of Europe based on balanced economic growth and price stability, a highly competitive social market economy, aiming at full employment and social progress” stating also that the Union promotes “economic, social and territorial cohesion, and solidarity among Member States.” The Union’s policies should be globally consistent, given that the rules established by the Treaties are all equally binding.