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Shopping carts in Berlin: Most consumers orientate themselves on prices in the supermarket
Photo: Fabian Sommer / dpa
The federal government expects inflation to continue to rise in Germany.
"In the second half of the year, due to a base effect due to the temporary reduction in sales tax rates a year earlier, rates of around three percent can be expected," says the Federal Ministry of Economics' monthly report.
The vast majority of savers in Germany are also preparing for further increases in prices.
89 percent assume that prices will rise in the second half of the year.
This is the result of a representative survey of 500 financial decision-makers in private households on behalf of the investment company Union Investment.
The majority (66 percent) believe that this is only slightly noticeable.
"The proportion of those who expect prices to rise sharply has reached a new maximum of 23 percent compared to previous years," says the report.
"The end of the corona pandemic is in sight, the associated easing is stimulating the economy and increasing price pressure," said the managing director of Union Investment, Giovanni Gay.
»These special effects should, however, subside again in 2022.
We expect that the inflation rate will then fall to a moderate level. "
Most of the respondents base their assessment on what they pay for their regular purchases in the supermarket (83 percent).
Around two thirds each also base their opinion on property and rental prices (68 percent) and gasoline prices (66 percent).
More than half of them take their picture of the price development from reporting in the media.
37 percent consult the development of their own credit balance.
In May the rate of inflation rose to 2.5 percent, the highest level in nearly ten years.
The main reason was higher energy prices.
After the special effects have expired, however, according to the Ministry of Economic Affairs, price pressure should decrease significantly at the beginning of next year.
"From today's perspective, a sustained increase in the rate of inflation is not to be expected, because there are currently no signs of a wage-price spiral that could lead to permanently high inflation."
dab / Reuters
