No end in sight to high inflation, says German institute

Photo: Courtesy dhakatribune

Prices in Germany will continue to rise, almost across the board, in the coming months, according to the results of an inflation survey released by the Munich-based ifo Institute on Wednesday.

According to the institute’s survey, all companies in the food trade want to raise prices across the board.

The Munich economists also said gas and electricity prices are set to continue to rise, as will prices in the catering trade.

“Unfortunately, the wave of inflation isn’t likely to abate yet,” ifo economic chief Timo Wollmershäuser said on Wednesday.

On balance, 100% of grocery stores and more than 92% of chemists are planning price increases. For flowers and plants it was almost 90%, while for bicycles and office supplies well more than 80% of businesses queried planned increases.

In gastronomy, the figure was more than 87%, while a good 62% of hotels surveyed said they are set to step up their pricing as well.

The situation is similar in some branches of industry such as the clothing or electronics industry, according to the ifo Institute survey data.



Courtesy © dpa Deutsche Presse-Agentur GmbH