2023-04-24 15:24:42
The surging wave of price increases for food is causing discussions in Austria and Germany – and leading to a search for the cause. According to a study, German households do not need to hope for cheaper food. “Experience has shown that price increases that have been implemented are rarely withdrawn,” says inflation expert at credit insurer Allianz Trade, Andy Jobst, on the study published on Monday. According to this, groceries have become 22 percent more expensive in the first quarter, and for the year as a whole the price increases should amount to an average of more than twelve percent. Striking: “More than a third of the recent increase in food prices in this country cannot be explained with the traditional risk drivers,” says Jobst. There are increasing signs of increased profits and insufficient competition in areas with particularly high price increases.
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