The high inflation makes pensioners, employees and savers tremble!
In October alone, prices shot up by 4.5%. 28 year high! For the year as a whole, the Ifo Institute expects an inflation rate of 3%.
The economist Michael Stappel (DZ Bank) has calculated what the price shock means. The result: German savers will lose 1,400 euros per capita this year.
All in all, Germans can afford 116 billion euros less when shopping, refueling, etc. (loss of purchasing power).
Pensioners suffer especially. With 3% inflation over the full year, a retiree loses out on a pension
► From 700 euros / month, the bottom line is 21 euros.
► With a pension of EUR 1000 per month, it is EUR 30.
► With 1500 pension 45 euros.
Christine Lagarde (65) is also to blame for the price shock. The President of the European Central Bank (ECB), who likes to wear expensive luxury fashion (including from Chanel), could stop inflation by increasing interest rates. But don’t do it.
She can only laugh about the inflation loss of 1,400 euros – for this money she would only get the arm of a Chanel blazer. Some of the ECB President’s luxury jackets cost 7,000 euros and more.