Producers' prices for agricultural products in Germany have risen for the second consecutive month
Generator prices for agricultural products in Germany have risen for the second consecutive month. They increased 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 thus risen 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. Following the start of the Ukraine war, producer prices for agricultural goods rose significantly due to attractive inflation for agricultural products - by about 39 percent in September 2022.
The situation on the producer level 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 earlier, 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. Fruit producer prices rose exceptionally by 21.1 percent. Apples in particular became 36.8 percent more expensive, and raspberries rose 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 price increase in May, agricultural products in Germany still represent a smaller proportion in the overall Consumer Price Index compared to pre-war times, with a decrease of A percent.
- The sequence of generator prices for various agricultural products in Germany shows a diverse trend, with fruit prices, like apples and raspberries, experiencing the highest increment of up to 36.8 percent and 5.6 percent respectively, in the generator price sequence for the Month.
- Despite the rise in generator prices for animal products in May being minimal, Germany continues to import a significant percentage of its total animal product requirements from countries like France and Poland, with generator prices for these products following a separate Sequence.
