Cologne –

According to the Ifo Institute, an increasing number of companies in Germany want to raise prices. This is most noticeable in wholesale, but many companies are also planning higher prices in retail, industry, construction and the service sector, as the economic experts at the Munich economic research institute announced on Friday.

  • Experts expect significant price increases
  • Rewe, Aldi, Lidl and Co .: Prices are also expected to rise in retail
  • Prices for gasoline, wood and the like are rising, and inflation has not been higher for a long time

Ifo economic expert Klaus Wohlrabe named two reasons: On the one hand, companies are confronted with higher purchase prices on the procurement side, which they now pass on. Oil and many other raw materials have become considerably more expensive in the past few months.

“In addition, there are some catch-up effects due to earlier price reductions during the Corona crisis,” said Wohlrabe. “The sharp price increases for many raw materials ultimately affect the entire economy.”

The corresponding index of the Ifo scientists rose in all areas; in wholesaling, at 65 points, it is now well above the average for the past five years. This is a balance that is formed from the percentages of the companies that plan to increase or decrease prices.

Petrol and wood prices are rising

In many areas, higher prices can already be felt. For example at the gas stations. Since the beginning of the year, fuel prices have risen significantly here. According to ADAC, the monthly average price for a liter of diesel rose from 123.3 cents in January to 133.1 cents in May, while the liter Super E10 rose from 135.1 cents to 148.3 cents in the same period.

The price increase is currently particularly sharp for wood. As the NDR reports, 2.4 cubic meters of lumber on the US commodity exchange Chicago Mercantile Exchange would have cost 250 US dollars in May 2020. A year later, this is $ 1,500 – six times as high.

Inflation rate in Germany at its highest level for a decade

In addition, inflation in Germany increased further in May: consumer prices rose by an estimated 2.5 percent compared to the same month last year, as the Federal Statistical Office in Wiesbaden announced on Monday. The inflation rate increased for the fifth month in a row and rose to its highest level since September 2011.

It was last even higher in September 2008 at 2.8 percent. Compared to May 2020, goods were 3.1 percent more expensive, the increase in energy costs was particularly strong at ten percent. (so with dpa)

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