Life in Germany has become extremely expensive, projective “free” for price hikes

Last year, even a considerable portion of the people in Germany had no reservations, a new statistic indicates.

In this regard, it is known that for nearly a third of the people in Germany, sudden expenditures exceed their financial resources.

According to the Federal Statistics Ent, 31.9 percent of the population in this country has failed to raise 1150 euros or more of the budget available last year.

According to the statistics of Wiesbaden, this group was larger in Germany than in France (27.6 percent) and the Netherlands (15.1 percent).

But according to data, more than 40 percent of the population in Romania, Croatia, Greece, Cyprus and Latvia did not have enough financial reserves for large unplanned expenses.

According to information in question, two fifths of the people in Germany had to suffice with net income of less than 22,000 euros in 2021.

A fifth of the population had so-called net equivalent incomes of less than 16,300 euros a year, foreign media write, along with Telegrafi.

The equivalent income is a per capita income arranged for the effects of savings on families with many, as the Federal Office explained.

On the other hand, two fifths (40 percent) of the population had an income of 28,400 euros and more.

Meanwhile, according to the first official estimates, consumer prices in Germany in September of this year were 10.0 percent above the level of the same month last year.

Thus, inflation in Germany “dropped” to the highest level since the early 1950s, and energy and food have been the biggest price promoters for months.

According to the Federal Statistics Bureau's temporary estimates, in September 2022, energy cost 43.9 percent more than a year ago and food prices increased by 18.7 percent.

While according to Ifo Institute expectations, prices in Germany will continue to rise almost all over the board in the coming months.

According to the latest Ifo survey, all companies in the food trade want to increase prices.

More than 92 percent of pharmacies are planning price hikes, more than 87 percent of restaurants, and 62 percent of hotels have announced the Ifo Institute that surveys several thousand companies each month.

On the other hand, according to the Federal Statistics Office, 40 percent of the population with the lowest income is more often than average people from families <x0 with a parent”.

Almost two thirds (64.6 percent) had net equivalents of less than 22,000 euros a year in 2021, and a good third (33.2 percent) had less than 16,300 euros.

There are also many adults living only in lower income groups: more than half (53.2 percent) of this group earns less than 22,000 euros a year, almost one third (32.2 percent) of those living alone earn less than 16.300 euros.

In addition, about half (50.1 percent) of pensioners had net income of less than 22,000 euros in 2021, and almost a quarter (24.6 percent) had less than 16,300 euros.