Bad news for consumers: Inflation in Germany is increasing significantly - not more than it has been since 1993.
According to experts, this is behind the increased prices.
The
inflation rate
in Germany jumped to its highest level in almost 30 years in July.
The German Press Agency (dpa) reported on this on July 29th.
Thus the lay
consumer prices
according to dpa 3.8 percent higher than in the same month last year, the Federal Statistics Office on the basis of a preliminary calculation communicated have.
As a result, life in Germany has become “a lot more expensive”, as dpa writes - “and inflation is likely to continue to rise in the next few months”.
From the point of view of economists, a temporary phenomenon, as the report says.
Energy prices, food, services - this is how prices develop
The price of goods in Germany rose by 5.4 percent within a year, reports dpa.
Energy prices * rose
above average
by 11.6 percent. “In
July of the current year, consumers had to pay 4.3 percent more
for
food
than a year earlier. In all categories, prices rose significantly more than in previous months, ”writes the news agency.
According to the dpa, economists expect
further price jumps in the coming months
.
A weighty reason is a so-called base effect: In order to stimulate consumption in the Corona crisis and give the German economy a boost, the federal government had reduced VAT for a limited period from July 1, 2020 to December 31, 2020.
The regular tax rate decreased from 19 percent to 16 percent, the reduced tax rate from 7 percent to 5 percent.
The regular
VAT
rates have been in effect again since January 2021,
so
goods
and
services
tend to be expensive again.
You can also read
when your tax return must be at the tax office at the latest
Refueling and heating are more expensive
Energy prices have also been rising above average for months: a year ago,
when the Corona crisis broke out,
crude oil
prices collapsed due to low demand on the world market, as the dpa report on the background states. They have since recovered. The price of crude oil is currently around 70 percent above the level of the previous year. In Germany, since January 25 euros per tonne of carbon dioxide (CO2) that is produced when diesel, gasoline, heating oil and natural gas are burned have also been due. Both ensure that
refueling
and
heating become
more expensive.
According to the dpa, economists also explain the strong price increase with the fact that
raw materials are
currently in great demand in the global economic upturn and are therefore in
short
supply.
The industry is already complaining about
delivery bottlenecks
and
delays in delivery times
in many areas
.
(ahu) * Merkur.de is an offer from IPPEN.MEDIA.
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