Low-income families are currently suffering the most from inflation. While the shopping baskets for German households were an average of 7.3 percent more expensive in March than a year ago, families with low incomes had to pay 7.9 percent more than in March 2021. This is the result of the Institute for Macroeconomics and Economic Research (IMK ) of the union-affiliated Hans Böckler Foundation in its inflation monitor for March published on Wednesday.
According to the IMK, gas, electricity, heating oil and food are currently the strongest price drivers. These basic necessities would weigh heavily on the spending of poorer households. In contrast, they made up a smaller proportion of the basket of high-income households. At just 6.0 percent, singles with high incomes currently have the lowest inflation burden. At 6.7 to 7.0 percent in March, the rates for people living alone with low, higher and middle incomes were also slightly below the general price increase.
The majority of the burdens are still ahead of households this year, the IMK reported. Food prices on the world markets have recently increased further. In addition, not all price increases in wholesale household energy have been passed on to private households. (dpa)