Food price inflation in Germany soared to its highest level on record in July though the overall pace of price growth eased slightly, according to the country’s statistical agency.
Germany’s Federal Statistical Office, also known as Destatis, said on Aug. 10 that food prices jumped by 14.8 percent in the year through July, the fastest pace of inflation since the agency started tracking the statistic several decades ago.
July’s jump is the fifth month in a row that the cost of food has gone up in Germany, with all food groups seeing increased prices, Destatis said.
Double-digit food price jumps were recorded in a number of categories, including meat (+18.3 percent), dairy (+24.2 percent), and edible fats and oils (+44.2 percent)….