In Germany prices producers increased in November for the first time since June 2023. According to data from the Federal Statistical Office, there was an average increase of 0.1%. compared to November last year. This average may not be scary, but in the case of some products it increases prices manufacturer is huge.
Germany. Butter increased in price by 43%.
This is the case with butter, the price of which has been rising since the beginning of the year with no end in sight. Compared to November 2023, the price of butter increased in November this year. by as much as 42.9 percent In German stores the price for a stick of butter reaches from 2.39 to 4 euros and has already broken the previous record from 2022.
Industry he does not expect prices to drop for now due to the development of milk prices – admitted the president of the German Farmers' Union, Joachim Rukwied. The main reason is the decreasing supply of raw milk. The number of dairy cows and dairy farms in Germany has been declining for years. In December, Rukwied again expects a slight increase in milk prices of two to three percent compared to November this year.
Data from the Federal Statistical Office show that overall, in the annual comparison, the price of food in Germany increased by 2.8 percent, and confectionery products by 23.9 percent. Beef cost 16.5 percent. more. Cheaper than in November last year were, among others: cereal flour (-7.7%) and pork (-6.4%).
In turn, the prices of investment goods were 1.9%. higher than last year.
Inflation in Germany and expert forecasts
Economists polled by the Reuters news agency expected in November this year. producer prices in Germany decreased by 0.3%. – after a decline of 1.1%. in October. – However, energy prices have not fallen as sharply as before, which no longer compensates so much for the rise in food prices, said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
From October to November this year. Producer prices increased by 0.5 percent, slightly more than experts expected. The main reason was the increase in prices of investment goods.
The statistics record product prices before they reach wholesalers and retailers. They are therefore considered an early signal of price developments for consumers. In Germany, inflation rose to 2.2 percent in November. and was therefore the highest since July this year.
(RTR, DPA/home)
The article comes from the website Deutsche Welle