Producer prices for agricultural products have risen for the second consecutive month
Producers' Prices for Agricultural Products in Germany Have Risen for the Second Consecutive Month. They climbed by 3.5 percent in May compared to the previous year, as the Federal Statistical Office announced on Thursday. Prices had risen by 0.1 percent in April and had therefore increased for the first time since July 2023. In March, they had even fallen on average by 2.2 percent, in February by 5.8 percent, and in December 2023 by around ten percent. After the beginning of the Ukraine war, producers' prices for agricultural products rose significantly due to attractive inflation for agricultural products - by approximately 39 percent in September 2022.
The situation on the producer side usually takes longer to reach consumers. For a long time, inflation was above average for foodstuffs. However, since the beginning of the year, prices here have dampened overall inflation. Foodstuffs cost only 1.1 percent more in June than a year ago, while the overall inflation rate in Germany was 2.2 percent.
Prices for plant-based products rose by 9.6 percent on the producer level in May compared to the previous year, while prices for animal products fell by 0.4 percent. Grains became 7.2 percent cheaper, while wine cost 0.9 percent more. The producers' prices for fruit rose by an over-average 21.1 percent. Apples in particular became 36.8 percent more expensive, and strawberries increased by 5.6 percent. In total, vegetables cost 5.2 percent more, with significant price increases for cabbage (+57.1 percent), turnips (+39.9 percent), and cucumbers (+33.7 percent). Potatoes for cooking even rose by almost 53 percent. Milk cost 3.7 percent more in May than the previous year. "This was the first price increase in the year-on-year comparison since March 2023."
- Despite the rise in generators' prices for agricultural products in Germany, those for plant-based products only increased by 9.6% in May compared to the previous year.
- The sequence of producer prices for agricultural products in Germany showed a decrease in January, followed by a slight increase in April, a significant rise in September 2022 due to the Ukraine war, and a subsequent decrease until May 20XX, where they increased again by 3.5%.
- The price increase of 3.5% for agricultural products in May 20XX represented a small portion of the overall increase by approximately 39% in September 2022, which was largely attributed to the Ukraine war.
