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there they are. commodities expert kona lasker haque can tell us where the markets think prices of raw materials are heading. kai—markus mueller, who's the neuroscientist who gives us the psychology behind the way shops set their prices. and christel delberghe, she's the boss of eurocommerce, which represents the big retailers in some 27 countries across europe. also on the show, from the coffee field to your daily mug ofjoe, i've got antonio baravalle, the big boss of the coffee giant lavazza, to talk to us about pricing from bean to cup. wherever you'rejoining me from around the ...

to portugal and spain, with the aim of rebuilding his country's ties with europe. lula da silva is facing criticism after suggesting that ukraine and russia shared the blame for their current conflict. you're watching bbc news. time now for talking business with aaron heslehurst. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. let's go and take a look at what's on the show. the cost of living has been going through the roof, but can it possibly go up even more? and do prices ever really come down? we're going to be looking at how those pric...

Have the same access to the profit structures of our branded suppliers, but we do challenge them as hard as we possibly can. ok, so let's start with the raw ingredients. take wheat, for example. before the pandemic, about four years ago, a bushel of wheat was trading on the market at $4.70. that spiked when russia invaded ukraine one year ago. the same amount of wheat went up to almost 13 bucks a bushel. but at the end of march this year, it was sitting at around $7, much less than the peak, but still 47% higher than before the pandemic. it's a similar story with cooking oil. before the pandem...

Corridor or exports flows, that can continue to be fraught with risk. and the final thing is the other producing regions, you know, we are seeing some sort of climate change, unfortunately, which does create havoc across the world, particularly tropical countries. so, whether it's floods or droughts, inevitably you're going to see some of that in some key producing region. and i think that, again, may affect the supply side. so, bottom line, unfortunately, i think prices are not likely to get back to levels we saw pre—2019, the pre—covid levels because the whole world has structurally chan...

Effective depends very much on the perceptual threshold. so, for example, in weight, if i compare two weights, i need at least two grams of difference for 100x100 grams to perceive that difference at all. now, over time, that becomes more, so i maybe forget that last week, you know, that carton of milk or that little piece of tea or so was slightly heavier than this week. so, companies understand what the perceptual threshold for the different units is, they have good chances to make shrinkflation successful. kai, are retailers, are they nervous about raising prices? oh, yes. that is a big iss...