Striking workers in front of a poster with the slogan: “Stop the inflation monster!”
(Photo: Reuters)
Frankfurt These are historical records that inflation has recently reached. In the euro area, it was 8.9 percent in July – higher than at any time since the introduction of the euro. The prices in individual countries rose even more extreme, such as in Estonia, where they increased by 22.7 percent compared to the previous year. Some experts expect double-digit values for September for the entire euro area.
According to a survey by management consultants McKinsey in July, the rapidly rising prices are currently causing Germans more concern than anything else. All the more urgent is the question: when will the peak be reached?
Tesla boss Elon Musk sees signs of this. Looking ahead to the next six months, the costs of raw materials and components are likely to fall, he said at the Tesla annual general meeting on Thursday. “The trend is down, suggesting we have passed the peak of inflation.”
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