And in 2023, however, 50% of the 2,057 respondents to a new poll by the YouGov Institute do not expect prices to fall, on the contrary: they expect a new increase in inflation.
DW Dimitra Kyranoudis, Berlin
In 2022, life in Germany took a sharp turn due to high inflation linked to the energy crisis and, of course, the war in Ukraine.
And in 2023, however, 50% of the 2,057 respondents to a new poll by the YouGov Institute do not expect prices to fall, on the contrary: they expect a new increase in inflation.
A third of Germans, according to the poll, also expect prices for basic goods to be just as high as in the final months of 2022, when inflation reached 10% according to the latest German statistics office for November. In other words, they do not foresee a substantial improvement in their purchasing power in the near future.
The Bundesbank’s forecasts are not shared by the majority
It is also interesting that the moderate – if not slightly optimistic – forecasts of some German financial institutions for the course of inflation in Germany in the coming years are not shared by consumers themselves. For example, the Federal Bank of Germany Bundesbank predicts for 2023 a decrease in inflation from the average of 2022 (8.6%) to 7.2%.
However, the majority of respondents expect further growth (35%) or stable high inflation (24%) over the next three years as well. Fewer (28%) are those who expect a decrease in the rate of appreciation, while the minority (12%) did not want to make estimates.
“Sages” of the German economy: High inflation until 2024
However, the assessments of consumers seem to be confirmed by Monika Schnitzer, head of the group of Wise Men of the German Economy, an advisory body of the German government.
The leading German economist expects high inflation rates in Germany at least until 2024. She believes that the phenomenon of high inflation is mainly due to the secondary effects of the energy crisis, with many companies and producers passing on multiple costs to final consumers.
Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.
