Germany celebrates record prices for agricultural products in 2022

Agricultural producer prices in December 2022 were 29.7% higher than in the same month a year earlier.

The Federal Statistical Office (Destatis) reports that year-on-year price growth continued to slow down. The annualized rate of change was +31.9% in November 2022 and +37.9% in October 2022. Compared to November 2022, prices decreased by 0.4%. Prices for plant-based products rose by 13.4% compared to the same month a year earlier, which was a smaller increase than prices for animal-based products (+42.3%). In November 2022, the rate of change was +16.7% for plant products and +43.7% for animal products. Compared to the previous month, prices for plant products in December 2022 decreased by 2.3%, while prices for animal products increased by 0.9%.

Prices for animal products 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 decreased by 0.4% compared to November 2022. This is the first monthly price cut since February 2021. The increase in the price of eggs was 44.1% compared to December 2021 and thus has been steadily increasing since the beginning of 2022 compared to the same month last year.

In December 2022, animal prices increased by 38.1% compared to December 2021. In November 2022, prices increased by 36.5% compared to the same month last year. Prices for slaughter pigs in December 2022 increased by 61.2% compared to December 2021, for cattle - by 13.1%. Poultry MEAT prices in December 2022 were 33.2% higher than in December 2021. The main reason for this was the development of prices for chicken meat (+32.3%).

Producer prices of agricultural products, total, December 2022
+29.7% compared to the same month a year earlier
-0.4% compared to the previous month
+32.9% yoy in 2022 compared to 2021

Crop product prices
+13.4% YoY
+27.7% YoY in 2022 compared to 2021

Livestock product prices
+42.3% YoY
+36.8% YoY in 2022 compared to 2021