It is increasingly difficult for millions of Europeans to make ends meet. And this, even in the main economic powers of the continent, such as Germany. The country is experiencing high inflation, considerably curbing consumption, one of the main engines of growth.
Experts therefore estimate that GDP should decline by 0.4% next year. Prices should continue to rise. A very difficult situation for many citizens, especially the most modest: “It’s difficult when I’m shopping… There’s a shortage of oil and it’s really difficult to have to buy more expensive products, because I really don’t have much money“, explains Leana Kring, a student.
“I try to save money on my other daily expenses, for example by canceling my internet subscription. Or I might move to a cheaper apartment, I thought regarding it“, testifies for his part Alex Kempf, employee of a supermarket.
This high inflation, which concerns all member countries, accelerated in September as shown the Eurostat statistical institute.
In the European Union as a whole, it thus reached 10.9%, once morest 10.1% in August. However, situations vary from country to country. France (6.2%), Malta (7.4%) and Finland (8.4%) have the lowest inflation. On the other hand, this exceeds 22% in the three Baltic countries.
It is obviously the energy sector which is the most affected by the increase in prices, followed by food, alcohol and tobacco. In this context, the European Central Bank might once once more raise interest rates to fight once morest inflation. With the risk, according to some experts, of considerably slowing down growth on the continent, causing the dreaded phenomenon of stagflation.
