Financial expert warns of rising prices in supermarkets - inflation puts a particular strain on households and low incomes.

Financial expert warns of rising prices in supermarkets - inflation puts a particular strain on households and low incomes.

According to a report by www.watson.de, food prices in Germany continue to rise, while the inflation rate was up 2.9 percent in January 2024. Low-income households in particular are suffering from rising prices. The head of the Federal Association of Consumer Organizations (vzbv), Ramona Pop, expressed incomprehension about the price development and called for immediate measures.

Rising food prices are accompanied by low inflation. Although the inflation curve is flattening, there is no end in sight to the increase in food prices. Products such as fruit, vegetables, olive oil and coffee are becoming particularly more expensive, which calls for consumer protection. The top consumer advocate in Germany warns that prices will continue to rise and calls for immediate action. She expressed incomprehension that food prices continue to rise even though energy prices are falling. Ramona Pop makes serious accusations against manufacturers and retailers, as both have great market power.

The rising prices are particularly affecting people with low incomes, but ultimately inflation affects all consumers. In view of this, the head of the consumer advice center is calling for a price summit on food prices in which important players such as the federal government, farmers, manufacturers and the consumer advice center should take part. It also calls for financial relief for low-income consumers and more transparency in price developments.

The ongoing increase in food prices is putting a strain on households, especially those with low incomes. A further price increase would further reduce purchasing power and increase the burden of inflation on people in Germany. So it is important to take immediate action to keep prices stable and provide transparency in pricing.