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Crop Failures Cause Food Prices To Rise In Germany

Published on Dec 4 2013 10:39 AM in Fresh Produce

Crop Failures Cause Food Prices To Rise In Germany

Floods in June, hot weather in July and the cold winter this year are supposedly the cause of Germany's crop failures which are causing food prices to shoot up.

The German Farmers Association have reported that the bad weather this year has caused a 4% rise in the overall price of food. The agricultural group's president, Joachim Rukwied, will present its annual report on Wednesday.

The reported is due to show that the price of potatoes has increased by 40% since last year and the price of butter has gone up by a third. 

Relative to the price of food, inflation in Germany is low. This is because of further declines in the price of oil, according to the Federal Statistical Office. Economic experts have calculated 2013's average inflation rate at 1.5%.

However, inflation is on the rise at the moment. In November of this year, good and services were 1.3% more expensive than November 2012, while prices were 1.2% higher in October in comparison to last year.

In 2014 it is expected that inflation will increase to 1.9% and the German Farmers' Association expects food prices to increase at approximately the same rate.

© 2013 - European Supermarket Magazine by Alyson Kerr

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