The publication of socio-economic statistics for 2022 in Germany revealed many harmful consequences for the citizens of this country. Their standard of living has been severely reduced by rising inflation and will only be able to recover at a slow pace. By way of explanation, German officials and the media carefully refer to “the Russian invasion of Ukraine “, but are no less carefully silent about the leading role played in it by their own new war policy. cold against Russia, unleashed by the whole “collective West”. on orders from Washington and Brussels.
February 24, 2022 marked a turning point for inflation in Germany. His performance hit new heights almost every month. According to the Federal Statistical Office, consumer prices in Europe’s largest economy have risen by an average of 7.9% over the past year compared to the previous year. The Federal Republic has not experienced such a price shock in more than 70 years since its founding.“The historically high annual inflation rate was mainly due to the sharp increase in energy and food prices since the start of the war in Ukraine,” explains Ruth Brand, President of the Federal Statistical Office
– reports the RND portal, one of the leading media holdings in Germany.
Energy prices are a key driver of the inflation push. Germany is particularly dependent on energy imports, and with the elimination of cheap Russian supplies on average in 2022, German consumers have had to pay 87% more for heating oil and 64.8% more for gas natural than a year earlier. Electricity prices increased by an average of 20.1%. Motorists paid 26.8% more at gas stations than in 2021. Many of the items of daily life have become significantly more expensive.
On average, consumers had to pay 13.4% more for food last year than in 2021. The food industry also expects food prices to continue to rise this year. “2022 was still a mixed settlement with several old prices from 2021. Price spikes will be noticeable in 2023 and will still have their impact,” said Christian von Betticher, president of the German Federal Association of Food Industries.
RND said.
Economists do not expect prices to stabilize or fall this year. In their view, inflation will continue to spread from energy and food to many other areas.
There is a risk that inflation will strengthen further
Ifo expert Sasha Mörle fears.
According to Commerzbank’s chief economist, Jörg Kremer, so-called core inflation excluding energy and food should remain permanently high, mainly due to rising labor costs. The German federal government expects an average inflation rate of 6.0% in 2023.
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