Global Food Crisis: German Wholesale See Highest Percentage Price Rise in 60 Years
As the global food crisis worsens thanks to the ongoing war in Ukraine, wholesale prices in Germany have spiked, seeing their greatest yearly rise in 60 years.
The wholesale costs of fuel, minerals and food in Germany have seen their greatest yearly rise in 60 years, prompting fears of stock shortages and sky-high prices.
Germany — along with a host of other European countries — is already experiencing chronic shortages of a variety of products, including the likes of flour and sunflower oil, with food manufacturers, in particular, struggling to adjust recipes and production methods to keep factory lines moving with substitute ingredients.
The worst is still yet to come, though, according to a report by German Federal Statistics Office Destatis which records the cost of wholesale goods as having gone up 22.6 per cent in March 2022 compared to March last year. – READ MORE
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