Consumers in Germany will have to prepare for further increases in food prices in the coming months.
As the economic research institute Ifo announced on Friday based on a survey, almost every retailer for food and luxury goods wants to increase their prices. The so-called price expectations are therefore at 98.9 points and thus just below the theoretical maximum value of 100.
A majority of those surveyed also want to raise their prices in the other retail sectors. There, price expectations rose to 78.6 points from the previous 75.5. “This means that inflation rates are likely to remain high for the time being,” said Ifo economics expert Timo Wollmershäuser.