Agricultural producer prices in Germany slowed down in June

By: STA Date: 2022. 08. 15. 11:18

Agricultural producer prices in Germany rose by 1.9 percent less than the previous month, by 33.9 percent, according to the Monday report of the German Federal Statistical Office, Destatis.

The increase in the price of animal products increased, while that of vegetable products decreased. (Photo: Pixabay)

In June, year-on-year producer prices in German agriculture increased less than the previous month for the third consecutive month. The annual growth was 35.6 percent in May and 40.0 percent in April. The producer price of vegetable products increased by 35.7 percent and that of animal products by 32.8 percent in June on an annual basis. In the previous month, May, the growth rate was higher, 36.9 percent for vegetable products and 34.7 percent for animal products. The price increase of plant products in June was also primarily due to grain prices: they were 59.3 percent higher than a year earlier. In May, the annual price increase was still 71.5 percent. In June, grain prices decreased by 8.0 percent compared to the previous month.

Among animal products, the price of milk in June was 44.9 percent higher than a year earlier, while it was still 40.4 percent higher in May. The price of eggs increased by 28.2 percent compared to last June, partly due to increased energy, transportation and packaging costs.

MTI