Germany: Record prices for agricultural products in 2022
Producer prices of agricultural products were 29.7% higher in December 2022 than in the same month a year earlier.
The Federal Statistical Office (Destatis) reports that the year-on-year increase continued to slow. The year-on-year rate of change had been +31.9% in November 2022 and +37.9% in October 2022. Compared with November 2022, prices fell by 0.4%. The prices of plant products rose by 13.4% on the same month a year earlier, which was a smaller increase than that of animal products prices (+42.3%). The rate of change had been +16.7% for plant products in November 2022 and +43.7% for animal products. Compared with the previous month, the prices of plant products fell by 2.3% in December 2022, while the prices of animal products rose by 0.9%.
Animal product prices in December 2022 were 42.3% higher than in December 2021. The price of milk in December 2022 was 46.7% higher than in the same month last year, but fell by 0.4% compared to November 2022. This is the first month-on-month price decrease since February 2021. The price increase for eggs was 44.1% compared to December 2021 and has thus increased continuously since the beginning of 2022 compared to the same month last year.
Animal prices increased by 38.1% in December 2022 compared to December 2021. In November 2022, the price increase compared to the same month last year was 36.5%. The prices for slaughter pigs in December 2022 increased by 61.2% compared to December 2021, for cattle by 13.1%. Poultry prices were 33.2% higher in December 2022 than in December 2021. The main reason for this was the price development for chicken (+32.3%).
Producer prices of agricultural products, total, December 2022
+29.7% on the same month a year earlier
-0.4% on the previous month
+32.9% on an annual average in 2022 compared with 2021
Prices of plant products
+13.4% on the same month a year earlier
+27.7% on an annual average in 2022 compared with 2021
Prices of animal products
+42.3% on the same month a year earlier
+36.8% on an annual average in 2022 compared with 2021
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