In the upcoming months, the German Ifo Institute for Economic Research anticipates that prices in practically all sectors will continue to grow in Germany.
All businesses involved in the food industry plan to hike prices, according to the institute’s monthly study.
The experts at the Munich Institute anticipate that prices in the hospitality industry as well as those for gas and electricity will continue to grow.
Timo Vollmershuiser, the institute’s economic director, said on Wednesday that “unfortunately, it is not probable that the wave of inflation will abate soon.”
The Ifo Institute conducts a monthly poll of several thousand businesses to produce an economic forecast that includes price projections.
The report indicates that over 92% of pharmacies and all food retailers want to raise prices.
With regard to flowers and plants, about 90% of traders plan to do so, and as for bicycles and stationery, the percentage of those intending to increase prices exceeded 80%. The hospitality sector, the percentage amounted to more than 87%, and hotels 62%, and the situation is not different in some branches of industry, such as the clothing industry or the electronic industries. .
About 90% of traders want to raise prices for flowers and plants, while over 80% of traders intend to do the same for bicycles and stationery. More than 87% of the industry was in the hospitality sector, with hotels accounting for 62% of it. The scenario is similar in some other sectors, such as the textile and electronics industries.
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