German Energy-Driven Food Inflation Skyrockets 20.3% In October, Year-On-Year!
By P Gosselin on 1. November 2022
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As German energy prices and inflation skyrocket, in large part due to the country’s green energies folly, food inflation at supermarkets reached an all-time high in October 2022.
Milk 67% higher in one year
Hat-tip: Pleiteticker.de
Germany’s Consumer Price Index for October reached the highest level than at any time since data collection began! Compared to October last year, food in Germany in October, 2022, was 20.3 percent more expensive.
Germany’s Pleiteticker.de notes: “According to data from Bloomberg and the Destatis statistics service, food price inflation rose so sharply that it is overtaking records from the past. The last time there were similarly large increases was during the 2008 financial crisis – but even the 10 percent mark was not approached by the increases then. Today, German citizens are experiencing price increases like never before, if a year-on-year comparison is made.”
Skyrocketing milk prices
Pleiteticker.de, a German website that tracks inflation and the resulting insolvencies, also reports on how “dairies are warning that milk is going to get more expensive.”
Overall German milk production has been declining, as farmers call it quits, and prices have been rising, from 36 euros-cents a liter one year ago to 60 cents today (+67%) – driven in large part by energy costs.
https://notrickszone.com/2022/11/01/german-energy-driven-food-inflation-skyrockets-20-3-in-october-year-on-year/
