Suche
Mein Konto
Inflation is rising: Energy prices are driving prices up
Economists expect the inflation rate in Germany to rise in April due to higher energy prices. Find out how consumer prices are developing and what this means for the future.
Inflation is rising: Energy prices are driving prices up
In April 2023, economists expect an increase in the inflation rate in Germany, mainly due to higher energy prices. According to estimates from twelve banks surveyed, the average inflation rate in April will be 2.3 percent, an increase compared to the previous month when it was 2.2 percent. According to the Federal Statistical Office, the exact rate is yet to be published.
The main reason for the expected increase in inflation is higher energy prices, in particular due to a reintroduction of VAT on gas and district heating, which led to a price increase of around eleven percent. In addition, rising oil prices have also contributed to fuel becoming more expensive. The global oil price situation has risen noticeably in recent weeks due to tensions in the Middle East.
The federal government is forecasting an average inflation rate of 2.4 percent for the year as a whole, which should fall to 1.8 percent in the following year. In comparison, the inflation rate in 2023 was 5.9 percent. Federal Minister of Economics Robert Habeck was optimistic about the situation and emphasized that purchasing power is increasing, which means more money is available to people.