Prices: Inflation: Union demands countermeasures from politics

The head of the mining, chemicals, and energy union, Michael Vassiliadis, has called for countermeasures from politicians in the face of rising inflation.

Vassiliadis told the German Press Agency: “We are experiencing a surge in energy prices in Germany and Europe to an extent that has not been known for a long time. A new government is needed now so that politicians can take decisive countermeasures. Both social and economic risks are currently growing daily. “

Politicians hold the levers to relieve the people in their own hands, said Vassiliadis. State taxes and levies account for more than half of the electricity price.

For the first time in almost 28 years, inflation in Germany exceeded the four percent mark again. Fueled above all by higher energy costs, consumer prices rose by 4.1 percent in September compared to the same month last year, according to initial calculations by the Federal Statistical Office.

Vassiliadis went on to say: “There is no question that inflation must also be reflected in future wage developments. Because in view of the zero interest rates, the cost of the savings is accompanied by a drastic devaluation of the savings. We as IG BCE will not stand idly by as inflation eats up the hard-earned money of the employees in our industries. “

The recommendation of the IG-BCE main board for the collective bargaining round in the chemical and pharmaceutical industry with its around 580,000 employees is to be presented at the end of November.

Higher inflation weakens the purchasing power of consumers because they can then buy less for one euro than before. From the point of view of economists, inflation is likely to weaken again in the coming year.