Skilled labor shortages, climate change and the readjustment of global supply chains are just some of the factors that drive prices up in the long term, according to bank president Christian Sewing.
Bank president Christian Sewing does not expect inflation to return to the low levels it had before the corona pandemic.
“With the inflation trend we are currently experiencing a change of floor, from inflation rates below two percent in the past decade to rates of probably 2.5 to 3 percent in the next few years,” said Sewing of the Funke media group.
Multifactorial development
Germany has to do with several factors that would drive prices up in the long term, said the President of the Association of German Banks. Sewing mentioned the demographically induced shortage of skilled workers, the restructuring of the economy towards sustainability and the readjustment of global supply chains.
“In addition, more mobile working could drive salaries up in some places because medium-sized companies in the German provinces suddenly have to compete with jobs at large companies in the metropolises,” added Sewing. He is the CEO of Deutsche Bank.
Source From: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
