Poll: 25% of Germans don’t know what “inflation” means

Although inflation has eroded purchasing power in Germany for months, about a quarter of the country’s population does not know exactly what inflation means, according to the results of a representative survey conducted for the Federal Association of German Banks (BDP).
The results published in Frankfurt today, Saturday, showed that 45% of the age group between 16 and 24 years old said they did not know what the word “inflation” means, while 23% of people in this age group were unable to mention the current rate of inflation in Germany, even roughly. .
It is noteworthy that the high prices of energy and food have been causing a significant increase in the cost of living in Germany for months.
And the data of the Federal Statistics Office recently reported that the inflation rate last August rose by 7.9 percent compared to the same month of 2021.
Economists expect double-digit inflation in the coming months.
A large majority of those surveyed (82%) expressed their support for attaching great importance to teaching economic relations in schools, and what that includes educating students about how to deal with money and introducing them to economic systems and the possibilities of planning for retirement and the possibilities of investing money.
Many of those surveyed said they did not understand anything about ETFs, investment funds, and the like. More than half of the respondents (54%) admitted that they do not know anything about what is happening in the stock exchange.