More companies want to raise their prices. In the case of gas and electricity in particular, “there is still a lot in the price pipeline,” says Ifo economics chief Timo Wollmershäuser. In retail, price increases are to be expected above all in drugstores, for flowers, plants, pet supplies and toys
The number of companies planning price increases in the coming months has recently increased again. As the Munich Ifo Institute announced on Wednesday, price expectations for the economy as a whole rose to 53.5 points in September, after 48.1 points in August. The balance is calculated by subtracting the percentage of companies that want to raise their prices from those that want to lower them.
If all companies want to increase prices, the result would be a value of 100 points – this was the case for groceries in September. In August, this value was still 96.9 points. “Unfortunately, the wave of inflation is not likely to abate yet,” said Ifo economic chief Timo Wollmershäuser. In the case of gas and electricity in particular, “there is still a lot in the price pipeline”.
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In retail, price increases are to be expected above all in drugstores (92.3 points), for flowers, plants and pet supplies (89.6 points) and toys (89 points). In industry, clothing manufacturers are far ahead (83.5). The numbers are also high in gastronomy (87.4).
Across all sectors, companies are currently struggling with high procurement and energy costs – some of which they pass on to consumers in the form of price increases. Another factor is likely to be the minimum wage, which increased in October. An Ifo survey published at the beginning of September showed that a good 30 percent of companies are directly affected because some of them are currently paying less than twelve euros an hour. 58.3 percent of them planned price increases.
