The economist still expects high inflation in 2024.
(Photo: IMAGO/Future Image)
Berlin The head of economics, Monika Schnitzer, expects long-lasting inflation. “Inflation will remain an issue in 2024, only then could we gradually return to rates of two percent,” she told Düsseldorf’s “Rheinische Post” on Saturday, according to a preliminary report.
“Inflation remains high because of second-round effects. Companies pass on their higher costs – although some also exaggerate significantly,” she criticized. On the other hand, she is not worried about wages, the degrees in chemistry and metal are quite moderate.
Schnitzer calls for the energy solos to be introduced next year to finance the price brakes. “An energy solo makes sense: it expresses that the country is getting poorer and that strong shoulders have to carry more burdens than weak ones.”
The energy solos would bring the state billions. “If the state sets it as high as the previous solos, that would bring around 12 to 13 billion euros in additional revenue. If you link it to the price brakes, the solo is also clearly limited.”
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The Munich economist is also putting pressure on the three nuclear power plants in Germany to run longer. “From an economic point of view, it would make sense to order new fuel rods quickly now. That would give us more security next winter.”
The electricity prices are so high because the supply is scarce and therefore the particularly expensive gas-fired power plants are often used. The federal government should therefore urgently consider letting the three nuclear power plants run for two or three years longer. The unsolved repository problem will not increase if the term is extended a little.
Monika Schnitzer is head of the five-person council of experts that advises the federal government on economic policy. In addition to Schnitzer, the two economists Veronika Grimm and Ulrike Malmendier and their colleagues Achim Truger and Martin Werding are represented.
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