Price increases are to be expected in the catering trade.
(Photo: mauritius images / Torsten Krüger)
Berlin More German companies want to raise their prices in the coming months. The barometer for price expectations for the coming months rose to 53.5 points in September, after 48.1 in August, as the Munich Ifo Institute announced on Wednesday in its monthly company survey.
“Unfortunately, the wave of inflation shouldn’t abate yet,” said Ifo economic chief Timo Wollmershäuser. “There is still a lot in the price pipeline, especially for gas and electricity.” The inflation rate in September, at 10.0 percent, had already reached its highest level in decades.
There are signs of a further price increase, especially for food: Here the value determined by the Ifo Institute reached 100 points, after 96.9 in August. Practically all of the companies surveyed want to turn the price screw up in this area.
In other trade, price increases are planned in particular by retailers of:
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- Drugstore items (92.3 points),
- flowers, plants and pet supplies (89.6),
- toys (89.0),
- Bicycles (84.4)
- stationery (83.8).
Price increases are also expected in industry and other sectors:
- clothing manufacturers (83.5),
- Manufacturers of glass, ceramics and stones (77.3)
- Manufacturers of electrical equipment (75.5)
- Manufacturers of printed matter (70.3).
- Gastronomy (87.4),
- Maintenance of buildings (78.0)
- Hotels (62.4).
The points in the Ifo price expectations indicate what percentage of companies want to increase their prices on balance. The balance is calculated by subtracting the percentage of firms that want to raise their prices from the percentage of firms that want to lower their prices.
If all companies surveyed intended to increase their prices, the balance would be plus 100 points. If everyone wanted to lower their prices, it would be minus 100. The Ifo Institute does not ask about the amount of the planned price change.
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