Consumer price index: Rising prices contribut...
Consumer price index

Rising prices contribute to inflation rate

IMAGO / Martin Wagner
The year-on-year change in the consumer price index shows drastic increase in meat prices.
The year-on-year change in the consumer price index shows drastic increase in meat prices.

GERMANY, Wiesbaden. According to The Federal Statistical Office of Germany, consumer prices rose by 3.1% in 2021. Meat, meat products, and sausage also contributed to the price increase.

Consumer prices in Germany have not seen such a drastic rise for decades. As the Federal Statistical Office (Destatis) reported, the annual average inflation rate was 3.1%, the highest it has been since 1993.

In addition to base effects due to the VAT increase and higher energy prices, which rose by 10.4%, the inflation rate for food of 3.2% also contributed to the general price increase. Particularly in the second half of the year, the consumer price index rose significantly, reaching its highest level of 5.3% in December. Consumers even had to pay an average of 6.0% more for food than in the year prior.

According to the Wiesbaden-based statisticians, in 2021, vegetable prices rose by 3.9%, meat, and meat products by 3.0%, and fruit prices by 1.7%. According to the latest data for December, the price increase was disproportionately higher compared to the same month last year. For example, consumers had to pay 15.6% more for oils and fats, while the average price increase for vegetables was 9.9%. In addition, consumers had to pay an average of 6.8% more when buying dairy products. The most recent inflation rate for meat and meat products was 5.3%. Only below-average price increases were recorded for fruit, which was 2.7% higher than in December 2020.

Source: fleischwirtschaft.de; AgE

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