Institute: No End to High Inflation Germany for the Time Being
There will be no end to the high inflation in Germany for the time being. Moreover, according to the leading economic research institute Ifo, consumer prices will likely rise further in the coming months.
Research by Ifo has shown that those price increases will be seen throughout the economy. For example, almost all companies in the food trade want to increase the prices of products.
The vast majority of pharmacists, florists, bicycle shops, suppliers of office supplies, clothing sellers and catering entrepreneurs also say that they will raise prices as compensation for the increased costs, especially for energy and raw materials.
Ifo believes that energy prices will also increase further. “Unfortunately, the inflation wave is unlikely to subside anytime soon,” Ifo chief economist Timo Wollmershäuser said in the report.