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At least the ice price remains stable


Energy is becoming more expensive, as is most groceries, and wage increases cannot compensate for this at the moment. A calculation shows that this should work better in the long term. And there is one small consolation.

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Ice Cream: Work four minutes and forty seconds to be able to buy one

Photo: Giammaria Zanella / 500px / Getty Images

Many things are becoming more expensive, the inflation rate in Germany is still over 7 percent, even if it fell slightly in July, as the Federal Statistical Office reports: 7.5 percent was the annual inflation in the past month, in June it was 7.6 and 7.9 percent in May.

This makes it harder for consumers to get by on their own budget.

In the long term, however, not only prices will rise, but also wages and salaries.

For this reason, the employer-oriented Institute of the German Economy (IW) regularly calculates how these values ​​relate to one another.

A working hour: cinema, coffee, bread, beer, stamp

If you look back around 30 years, people often have to work less long hours to be able to pay for the same products and services.

For an hour of work in June 2022, people could on average afford a visit to the cinema, 500 grams of coffee beans, a stamp for a standard letter, a kilogram of mixed bread and a bottle of beer.

In 1991, people had to work seven minutes longer for this.

Compared to 2020, however, the so-called purchasing power per wage minute for these products has fallen overall: Two years ago, people only had to work an average of 56 minutes for this.

This reflects the inflation that has been higher for months.

One consolation may be that at least ice cream is quite stable in price.

The IW has actually looked at the prices of typical types of outdoor pool stalls and states: »The prices for Domino, Capri and Cornetto ice cream have not increased in the past two years.

Nogger, on the other hand, has become more expensive: in 2020, the nutty refreshment cost 1.60 euros, on these hot days it is 1.70 euros.

We also have to pay more for Magnum – here the price rose from 2.20 euros to 2.50 euros.«

Work shorter for Domino and Capri

As a result, you have to work seven minutes and 17 seconds for a Magnum.

Things are looking better for most other varieties.

For Domino and Capri, “Two years ago it still required three minutes and five seconds of work – today it is only two minutes and 55 seconds.

As a percentage, Domino and Capri have lost the most in price,” writes the IW.

The price of the cornetto falls somewhat more slowly, »here you have to work four minutes and 40 seconds instead of four minutes and 57 seconds.«

The calculations of the IW are based on the price developments for products and services as well as on the net earnings of the Germans per hour.

"Since German unity by 2021, the purchasing power per wage minute has increased by 27 percent," said Christoph Schröder from the IW.

"And now, of course, we already have losses due to the high inflation rate."

However, the inflation rate is not the only factor that has an effect, with food, for example, poor harvests often play an important role.

"We are currently seeing high price increases," says Schröder.

According to calculations by the IW, people had to work three minutes longer for 2.5 kilograms of table potatoes in June 2022 than in 1991. The potatoes were only earned after 13 minutes at work.

A visit to the hairdresser to wash and blow dry hair has also become more expensive for women.

The Germans have to work an hour and 11 minutes for this – twelve minutes longer than in 1991. »If you use a lot of services, life hasn't become as much cheaper for you than for other people,« confirmed Schröder.

However, people now have to spend significantly less working time on a television set.

While it was 79 hours and four minutes around 30 years ago, the television was earned after just 17 hours and 58 minutes this year.


Source: spiegel

All business articles on 2022-08-10

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