German retailer Aldi Nord to raise prices by 20-50% on Monday

German retailer Aldi Nord will raise its prices by an average of 20-50% due to an increase in production costs, local media reported on Sunday.

From Monday onwards, meat, sausage products, and butter will be "significantly more expensive," a company spokesman told German press agency DPA, adding that the price hikes in various products were necessary due to the rise in manufacturing costs.

"Since the beginning of the war in Ukraine, we're witnessing jumps in purchase prices that we have not experienced in this way before," said spokesman Florian Scholbeck.

Meanwhile, the German Retail Federation (HDE) has warned that the price hikes are likely to continue in the coming days in almost all supermarkets due to the effects of Russia's war on Ukraine and increase in energy costs.