Producer prices for agricultural products are 20.4% higher in February than last year
As reported by the Federal Statistical Office (Destatis), the increase compared to the same month last year weakened for the fifth month in a row. In January 2023 the year-on-year change was +25.2%, in December 2022 it was +29.8%. Compared to January 2023, prices fell by 0.7%. At +6.8%, the prices for plant products rose less sharply than the prices for animal products (+30.5%) compared to the same month last year. In January 2023 the rates of change were +10.7% for crop products and +36.0% for animal products. Compared to the previous month, plant products were 0.1% cheaper in February 2023, and animal products - 1.2% cheaper.
The price increase for plant-based products compared to the same month last year is due, among other things, to the rising prices for ware potatoes. In February 2023, these were 45.9% higher than in the same month of the previous year. In January 2023, however, the price increase was still 67.5%. At +1.5% compared to February 2022 (January 2023: +7.2% compared to January 2022), the price increase for grain also continued to decline.
The prices of animal products in February 2023 were 30.5% higher than in February 2022. The price of milk in February 2023 was 21.4% higher than in the same month last year. The price increase for eggs, which has been continuously increasing since the beginning of 2022 compared to the same month of the previous year, continued in February 2023 at +52.4% compared to February 2022. In January 2023, the change compared to the same month in the previous year was still +45.0%.
Animal prices increased by 37.3% in February 2023 compared to February 2022. In January 2023, the price increase compared to the same month last year was 35.7%. The prices for slaughter pigs rose by 73.5% in February 2023 compared to February 2022, and for cattle by 1.7%. In February 2023, the prices for poultry were 29.1% higher than in February 2022. The main reason for this was the price development for chicken (+26.0%).
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