Of households with monthly net income of less than 2,500 euros, almost a quarter (23.6%) stated that they had difficulties in meeting their usual expenses due to rising prices; when three months ago it stood at 17%.
In turn, in March, the inflation YoY in Germany it shot up to 7.3 percent, the highest since the country’s reunification in 1990, after the fall of the Berlin Wall.
One of the reasons for the price increase lies in the value of energy, driven up by the war between Russia and Ukraine.
“Revenues can’t keep up with inflation,” analyzed the chief economist of Postbank, Marco Bargell. “While wages and salaries in Germany recently rose 3.6% year-on-year, the cost of living rose 7.3%”he added.
During the survey, more than half (53.4%) of those surveyed said they were very concerned about rising prices, up from 44% three months ago. Meanwhile, 61.3% demanded more support from the State, since, in their opinion, the “aid package” launched by the German government is not enough to mitigate the effects of the inflation.
The Government of Chancellor Olaf Scholz lowered the energy tax for three months to lower the prices fuels. In addition, taxpayers will receive a single aid of 300 euros and families will receive a bonus of 100 euros per child.
According to estimates by the German Finance Ministry, the total cost to the state will be close to 16 billion euros, including the first aid package, established in February.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
