Status: 16/08/2023, 13:58 p.m.
By: Ulrike Hanninger
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Inflation seems to be running out of steam at the moment. Especially when buying edible fats such as butter or fuel, you can save.
According to a report by the Federal Statistical Office at the beginning of August 2023, consumer prices rose by only 6.2 percent compared to the same month last year. This means not only a small weakening of inflation, but also very concrete financial relief when shopping, if you take into account some savings tips.
What impact does easing inflation have on energy prices?
During inflation, purchasing power decreases, so consumers save and compare prices closely when shopping. © Martin Wagner/Imago
Overall, energy prices rose again by 5.7 percent. Electricity (+17.6 percent) and natural gas (+8.5 percent) also rose in price. On the other hand, some petroleum products and fuels became cheaper:
| Light fuel oil | -35.5 percent |
|---|---|
| Diesel | -16.6 percent |
| Petrol | -0.8 percent |
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Unfortunately, you can hardly save on food
Although food prices rose somewhat less sharply last month than in June, for example, the level remains consistently high. With one exception: the cost of edible fats such as butter and edible oils has fallen sharply. Here, a minus of 12.9 percent is currently attracting consumers.
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On the other hand, the Federal Statistical Office reports a significant price increase for the following foodstuffs:
| Sugar, jam, honey and other confectionery | +18.9 percent |
|---|---|
| Bread and cereal products | +16.6 percent |
| Vegetable | +15.7 percent |
| Fish, fish and seafood | +14.1 percent |
Parents pay extra at the start of school
This year, parents will have to dig particularly deep into their pockets for back-to-school materials. Children already cause very high costs. Prices rose by 13.6 percent. According to the Federal Statistical Office, the reasons for this are the ongoing shortage of paper and the high costs of paper production.
What can consumers do concretely?
To reduce the cost of food and energy, consumers should keep a close eye on special offers and the development of inflation. Especially in the supermarket there is always one or the other "shopping trap". Write appropriate shopping lists and avoid impulse purchases. Drivers are advised to use public transport. However, owners of diesel vehicles or petrol engines should now seize their chance. The same applies to households that heat with light fuel oil.