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October 14, 2022

Germany’s food prices soar by nearly 20% in September as country sees record inflation

The country saw the inflation rate hit a record 10% YOY in September.

By Jessica Broadbent

Inflation levels in Germany reached their highest levels in three decades in September with food prices rising 18.7% year on year, figures show.

In a continued squeeze on consumer pockets, inflation reached 10% – its highest level since the country’s reunification in 1990, the federal statistical office said.

Consumers faced the sharpest rises in edible fats and oils, which were up by 49%. Dairy products and eggs increased by 29.1%, meat and meat products 19.5% and bread and cereals 18.5%.

Month-on-month comparisons show consumers paid 1.8% more for food in September than in August, with vegetables 3.9% more expensive and dairy products up by 2.2%.

The consumer price index for food in Germany, measured against a 2015 baseline of 100, stood at 135.4 year-on-year in September, compared to 121.1 overall.

The federal statistical office said the cost of energy was leading inflation but food also played a major role, with both contributing to an overall 10% rise in prices.

Without food and energy rises in the equation, the country’s inflation rate is reduced by over half to 4.6%. The prices of all goods increased by 17.2% in September 2022 compared to 2021, but the prices of non-durable consumer goods, which include food and energy, increased by 23.3%.

Dr Georg Thiel, federal statistical office president, said: “At 10%, the inflation rate has reached an all-time high since German reunification.

“Enormous price rises for energy products still are the main reason for the high inflation. But we also see price increases for many other goods, especially food.

“The end of both the fuel discount period and the nine-euro ticket availability also accelerated the price rises in September 2022. These temporary measures of the second relief package had a downward effect on overall inflation from June to August 2022.”

Germany’s gloomy results come as the US also recorded soaring prices this year, with the consumer price index for food climbing 11.2% in September compared to the same period last year and 0.8% between August and September. “Food at home”, which includes groceries, increased by 13% year-on-year.

Margarine had the highest inflation rate, up 44% on last year, and eggs were up 31%. Pre-made frozen and refrigerated bakery products like pies and tarts were up by 20.4%.

Uncooked turkey prices, impacted both by inflation and bird flu, were up 17%, sparking fears over affordability for traditional Thanksgiving meals next month.

Inflationary records were also broken in the UK in September, it announced this week, when grocery price inflation hit an all-time high of 13.9%.

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