Inflation Tightens Its Grip on Europe

In Afurada, a fishing village south of the Douro River in Porto, Portugal, food and fuel prices have been climbing. On a recent morning, Manuel Tavares returned from a night of fishing with a haul of nearly 200 pounds. He is spending 20 to 30 euros ($20 to $30) more a week for the gasoline that powers his small fishing boat.

The prices his catch fetches at the daily auction, though, have risen even more. Mr. Tavares, who has been fishing these waters for 42 years, said the species he brought in were particularly valued by restaurants that cater to tourists. Sea bream that used to sell for €8 a kilo is now selling for €12; sea bass commands €14 or €15 a kilo compared with €12.50 previously. Lamprey is even more valuable.

“The fish are paying for the fuel,” he said through a translator.

Sardines, which are celebrated with a monthlong festival in Portugal, have not gone up as much. Mr. Tavares said sardine fisherman, who also operate under restrictions to protect against overfishing, were struggling.

Article source: https://www.nytimes.com/2022/08/31/business/eurozone-inflation.html