Consumer advice centers warn that price pressures will continue to be high in 2024

2023-12-29 14:18:52

Despite recently weaker inflation, consumer advice centers are warning that price pressures will continue to be high in 2024. The head of the Federal Association (vzbv), Ramona Pop, told the German Press Agency: “Energy will be significantly more expensive for many private households next year.” After that If the government curbs on energy prices at the end of the year, consumers would face new burdens such as higher network fees and increasing CO2 pricing. The people here rightly expected compensation through climate money as promised by the coalition.

“Otherwise the federal government risks losing people’s trust, especially for the urgently needed energy transition,” said Pop. A model household with a gas consumption of 20,000 kilowatt hours would have to pay 162 euros for the CO2 price next year instead of 110 euros this year. Pop explained: “Almost half of German economic output comes from private consumption.” When people felt insecure or overwhelmed, they held back. “There isn’t much gained for the economy either.”

In particular, skyrocketing food prices continued to cause problems for many. “A healthy, varied and sustainable diet should not be a question of money in Germany,” warned Pop. However, consumers felt let down by the constantly rising prices in the supermarket. The federal government must bring all relevant players together at a “price summit” and develop options for action.

This includes ensuring more price transparency and relieving the burden on those who already don’t know how to make ends meet on low incomes. “It is absolutely unclear how prices for certain foods are made up and who ultimately makes how much profit,” complained the consumer advocate.

In an online survey commissioned by the association, 55 percent said they would adjust their purchasing behavior because of high living costs. 25 percent said that they said they could cover the increased cost of living from their income. 11 percent said they used savings, and 5 percent said they borrowed money or took out a loan.

According to the information, 1,000 people aged 16 and over who use the Internet took part in the survey by the Eye Square Institute from November 13th to 20th.