Increased prices for energy and intermediate consumption alone do not explain the extent of the inflation.
This is according to a study by the German economic research institute ifo. Differences between nominal and price-adjusted value added were determined on the basis of data from official statistics. According to ifo economist Joachim Ragnitz, the development is likely to be primarily in trade, agriculture and the construction sector.
Josef Baumgartner, economist at the Austrian Economic Research Institute Wifo, sees “first signs” from Germany. However, he emphasizes that there is still no reliable database for such statements in Austria. And even if that’s the case: “It’s a market economy. If the demand allows it, prices will be raised. It’s not reprehensible as long as there are no agreements in the background.”
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