Status: 05.10.2022 10:06 a.m
An end to the high inflation is not in sight for the time being. According to a survey by the ifo Institute, more companies are planning to raise prices in the coming months. The trend is particularly evident in food.
The Munich economic research institute ifo assumes that prices in Germany will continue to rise. The barometer for price expectations for the coming months rose to 53.5 points in September after 48.1 points in August, as the ifo announced today in its monthly business survey. In the food trade, for example, all the companies surveyed are planning to increase prices.
According to the economists, gas and electricity will also continue to rise, as will prices in the catering trade. “Unfortunately, the wave of inflation shouldn’t abate just yet,” said ifo economics chief Timo Wollmershäuser. “There is still a lot in the price pipeline, especially for gas and electricity.” In September, the inflation rate reached 10.0 percent, its highest level in decades.
Drugstore items and clothing are becoming more expensive
The ifo Institute surveys several thousand companies every month for its economic forecasts. Among other things, it is about price expectations. As a result, there is a further increase in food in particular: Here the determined value reached 100 points, after 96.9 in August. Practically all of the companies surveyed want to turn the price screw up in this area.
In other trade, price increases are planned in particular by sellers of drugstore items (92.3 points), flowers, plants and pet supplies (89.6), toys (89.0), bicycles (84.4) and stationery (83.8). In industry, clothing manufacturers are far ahead (83.5 points), followed by manufacturers of glass, ceramics and stones (77.3), manufacturers of electrical equipment (75.5) and printed products (70.3). The numbers are also very high in gastronomy (87.4), building maintenance (78.0) and hotels (62.4).
The points indicate what percentage of the companies want to increase their prices on balance. The balance is calculated by subtracting the percentage of firms that want to raise their prices from the percentage of firms that want to lower their prices. If all companies surveyed intend to increase their prices, the balance is plus 100 points. If everyone wants to lower their prices, it is minus 100.