According to estimates by the retail sector, food prices in Germany should continue to rise significantly.
According to estimates by the retail sector, food prices in Germany should continue to rise significantly.
Even before the outbreak of the Ukraine war, prices “across the product range” had risen by a good five percent, said Josef Sanktjohanser, President of the German Trade Association (HDE), the “Neue Osnabrücker Zeitung”. This was the result of increased energy costs. “The second wave of price increases is coming, and it will certainly be in double digits,” said Sanktjohanser.
The first retail chains have already started to raise prices. “We will soon be able to see this on the price tags everywhere in the supermarkets.” “For the time being, there will be no more sustained downward movement in prices,” said Sanktjohanser. Retail chains such as Aldi, Edeka and Globus had recently announced price increases.
Farmer’s President Joachim Rukwied said that the food supply was secured for the foreseeable future for a year. “But beyond this time horizon, it is difficult to make a forecast.”
At the level of the Central Coordination for Trade and Agriculture (ZKHL), the leading trade and agricultural industry associations exchange views on the consequences of the Ukraine war. ZKHL Managing Director Hermann-Josef Nienhoff said the current wave of price increases has not yet reached consumers. The ZKHL was brought into being after persistent protests from the agricultural sector against the pricing policy of the trading groups.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
