The Deutsche Bank survey also shows that almost 16 percent of Germans own securities.
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Frankfurt The high prices continue to cause great concern in the German population: 68 percent of Germans expect inflation to continue to rise, 13 percent expect it to remain at the current level and only seven percent expect it to slow down.
This was the result of an online survey conducted by the opinion research institute Yougov at the end of July among a good 2,000 citizens on behalf of Deutsche Bank. 58 percent of those surveyed are concerned about their retirement provision because of inflation.
At the beginning of August, the European Central Bank (ECB) published the results of a survey of 14,000 citizens in Belgium, Germany, Spain, France, Italy and the Netherlands. Those surveyed estimate an average (median) price level increase of 7.2 percent over the past twelve months. The corresponding inflation expectation is five percent for the next twelve months and 2.8 percent per year for three years.
Double digit price increase?
The central bank’s long-term goal is an inflation rate of two percent. In July, however, the value reached 8.9 percent in the euro area according to the HPVI index and 7.5 percent in Germany according to the CPI, which is more common here. Recently, German inflation had even declined somewhat. However, most economists initially expect a further increase simply because of government measures such as the expiry of the nine-euro ticket and the gas surcharge.
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Commerzbank even considers double-digit inflation possible for the euro area. In the USA, on the other hand, according to widespread opinion, the peak has been passed, where inflation recently fell slightly to 8.5 percent.
The Deutsche Bank survey also shows that almost 16 percent of Germans own securities, almost 14 percent real estate, 9.6 percent precious metals, 3.4 percent luxury goods, 2.9 percent art, 2.6 percent antiques and 4.2 percent other property. The evaluation according to age groups is interesting.
As a result, older people worry more about inflation, but invest less in real assets. The bank describes it as a “risky mistake” to consider cryptocurrencies such as Bitcoin to be good protection against inflation, which applies to 11.5 percent of all respondents and even 18.2 percent of 18 to 24 year olds.
In fact, there were sharp falls in value in this area, which are also related to the central banks’ fight against inflation through higher interest rates. Incidentally, a sharp fall in the price of bitcoin, for example, means that the price of other goods will rise in bitcoin terms, i.e. high inflation.
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