The majority of Germans are increasingly reaching their financial limits due to high inflation. “We expect that because of the significant price increase, up to 60 percent of German households will have to use their entire disposable income – or more – monthly for pure living expenses,” said savings bank president Helmut Schleweis of the “Welt am Sonntag” in a preliminary report according to.
According to the newspaper report, the Volks- und Raiffeisenbanken are observing a similar development. “High inflation robs consumers of purchasing power, which reduces their ability to save,” said Andreas Martin, head of the Association of German Volksbanken and Raiffeisenbanken (BVR).
