Financial expert warns of rising prices: What consumers need to know now

Financial expert warns of rising prices: What consumers need to know now

According to a report by www.kn-online.de,
More than 28,000 pieces of information, almost 19,000 consultations: the Schleswig-Holstein consumer advice center also had a lot to do in 2023. But more worrying than the numbers is what VZSH experts are experiencing in discussions: high energy costs and rising food prices are fueling anger and despair.
There are a lot of figures that Stefan Bock will present to the media this Friday at the Kiel headquarters of the Schleswig-Holstein Consumer Center. If the VZSH were a commercial enterprise, board member Bock could assess the numbers positively: people contacted the consumer advice center around 47,000 times last year for information and advice. Although these are slightly less than last year, the values ​​are still at a high level: “The energy crisis and inflation are putting many households under enormous pressure,” said Bock at the organization’s annual press conference. But it's not primarily the numbers that worry the VZSH boss.

Rising energy costs and food prices are having a huge impact on consumers. Many households are facing increased financial pressure, leading to anger and despair. The increased food and energy prices are forcing many consumers to think carefully and calculate every euro carefully. This can lead to changes in consumer behavior and possibly a reluctance to spend.
The Schleswig-Holstein consumer advice center recorded 47,000 consultations last year, which indicates a high need for support and advice in financial matters. This could also be seen as an indicator of the overall financial burden on consumers.
Rising inflation and the energy crisis are also important factors that are further increasing the pressure on households. Rising prices are expected to have a further impact on consumers' quality of life as they are forced to reconsider and adjust their household spending.