Expensive shock under the Christmas tree: The prices of many foods that we eat especially at festivities and gifts are skyrocketing!
▶ ︎ Poultry (+ 8.8%), fish (+ 8.31%), potatoes (+ 11.5%) are significantly more expensive than in the previous year, reports the Federal Statistical Office. But customers also have to dig much deeper into their pockets for bicycles (+ 7.3%) and books (+ 4%) (see table).
| product | Price increase |
|---|---|
| Pineapple, strawberry preserves or similar | 17,26 % |
| Works by painters / upholsterers | 8,59 % |
| Visit to an amusement park | 18,89 % |
| Pears | 12,86 % |
| Coffee beans | 6,72 % |
| bratwurst | 4,72 % |
| Butter | 12,29 % |
| Books | 4,00 % |
| Diesel 60 and more cetane | 41,43 % |
| Owner | 14,70 % |
| Electrician work | 11,55 % |
| bicycle | 7,26 % |
| Hairdresser for women | 4,35 % |
| Hairdresser for men | 5,01 % |
| Used car | 10,45 % |
| poultry | 8,8 % |
| Cod / salmon, fresh / chilled | 8,31 % |
| potatoes | 11,50 % |
| Cookies | 5,44 % |
| Candles | 11,76 % |
| Margarine | 12,41 % |
| Mayonnaise | 6,40 % |
| New car | 7,08 % |
| Package travel abroad | 10,31 % |
| chocolates | 5,29 % |
| Beef roulade or beef sirloin | 8,91 % |
| cut cheese | 6,86 % |
| roast pork | 4,41 % |
| Premium gasoline | 41,41 % |
| Whole milk | 4,46 % |
One reason for the price explosion: the pandemic! Because of Corona there are delivery bottlenecks worldwide.
But the European Central Bank (ECB) is also guilty, says top economist Prof. Hans-Werner Sinn (73, photo) to BILD. The ECB had financed new national debts for years at low interest rates using the printing press, according to Sinn. But new debts are the first rate drivers of inflation.
Sinn therefore fears that the price shock will last longer: “Inflation comes in waves, similar to the pandemic.”
▶ ︎ His warning: The euro countries should no longer take on new debts, the ECB should finally raise interest rates. “Otherwise we face new, massive waves of inflation, as we last experienced in the oil crises of the 1970s.”
Fear of permanent inflation!
Low-wage earners and retirees are hardest hit by rising prices. A new study by the IW Institute shows: An 80-year-old now pays 43% more for his standard of living than a comparable 80-year-old in 1995. For low-wage earners, the plus is 34%. For comparison: young adults between 18 and 24 pay only around 19% more.
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