The rise in prices in Germany has slowed somewhat after the introduction of the tank discount and the 9-euro ticket. According to an initial estimate by the Federal Statistical Office, consumer prices in June were 7.6 percent higher than in the same month last year, as the Wiesbaden authority announced on Wednesday. In May, the annual rate of inflation rose to 7.9 percent, mainly driven by sharp price increases for energy and food. It thus reached the highest level for almost 50 years.
According to preliminary data, the price of energy (plus 38.0 percent) and food (plus 12.7 percent) rose particularly significantly in June compared to the same month last year. Compared to the previous month of May, tickets for local transport and, in some cases, fuel were cheaper, according to the statistical offices of individual federal states. According to the Federal Office, the preliminary results do not yet show how the 9-euro ticket and the tank discount have had an exact effect.
According to preliminary figures, consumer prices rose by a total of 0.1 percent from May to June this year.
On July 4th, Chancellor Olaf Scholz (SPD) wants to discuss how price developments can be brought under control in a so-called concerted action together with top representatives of employees and employers.
Savings are made on food, clothing and shoes
Inflation rates at the current level have never existed in reunified Germany. In the old federal states there were similarly high values in the winter of 1973/1974. At that time, mineral oil prices had risen sharply as a result of the first oil crisis. Higher inflation rates reduce the purchasing power of consumers because they can then afford less for one euro.
In view of the high inflation, many people in Germany – whether employed or looking for a job – want to limit their grocery shopping and spending on clothing and shoes. This emerges from a survey by the Hans Böckler Foundation, for which a good 6,200 people were interviewed at the end of April and beginning of May. Across all income groups, 39 percent of those surveyed want to buy less food and luxury items in the future. When it comes to clothing and shoes, more than every second person (53 percent) wants to limit themselves. (dpa)