Inflation remains at a high level, prices are rising and consumers are groaning under the expensive phase that has been going on for months. There is still no talk of relief – on the contrary. Autumn could bring further burdens for millions of people. FOCUS Online lists where the expensive autumn is now threatening.
Consumers feel it clearly in everyday life. Prices are rising across the board. Meat, milk, butter, electricity and even the wine spritzer in the restaurant are more expensive than ever. But the top of the expensive mountain has not yet been reached. The next violent wave of prices is threatening in autumn.
The prices here will soon go through the roof.
Electricity prices are stagnating. Hardly any major electricity providers have announced price increases in recent weeks and months. However, the electricity market is extremely complex. New customers are already feeling the effects of the rising prices, but existing customers will only see the adjustments in stages.
It is possible that prices for hundreds of thousands of households could rise from autumn because old contracts will then expire and providers will have to recalculate. As a rule, suppliers on the energy market stock up on electricity for both the long and short term. Because prices are currently at a very high level, suppliers prefer to stock up on energy on the spot market at short notice.
“The worst part of the price increases has not yet reached households,” warns Felix Müsgens from the Brandenburg Technical University of Cottbus in an interview with Zeit Online. He expects price adjustments from autumn.
Filip Thon, head of Germany at Eon, agreed to make adjustments to customers at the beginning of April. “We have to reflect this unprecedented situation on the market in our pricing, but try to cushion it as much as possible,” he said in a newspaper interview.
There are many effective energy-saving tips. Do without standby! If all standby losses from electrical appliances are consistently avoided in a three-person household, up to 360 kilowatt hours (kWh) can be saved per year. The average electricity price is currently around 43 cents per kWh, which corresponds to annual savings of around 155 euros.
“The longer the gas prices remain high on the procurement markets, the greater the pressure on the gas suppliers to pass them on to the customers. New customers are already feeling this very clearly,” explains Detlef Fischer, general manager and board member of the Bavarian Energy and Water Industry Association.
In Munich, gas prices are expected to rise by 70 percent from August. A family of four with an annual consumption of 20,000 kilowatt hours will then no longer pay around 67 euros a month, but 158 euros. Calculated over the year, that makes a plus of 1,100 euros.
Other basic suppliers also announced adjustments. They range from 20 to 60 percent. The East German basic supplier EWE, for example, is increasing gas prices by 30 percent.
This is how you can save: Compare gas prices, pay attention to the small print and, in extreme cases, switch providers. In winter you should not let rooms cool down, consciously regulate the room temperature and only heat unused rooms on the back burner. This allows you to reduce gas consumption and save costs.
Heating oil and gas are more expensive than ever. In the spring of 2022 it was often still very cold. In many apartments in Germany, the heating ran at the highest level until the end of April. Consumers will experience a nasty surprise at the latest when the ancillary costs are settled in summer and autumn. And for many people this becomes a cost trap. Tenants must transfer the additional costs to their landlord within two weeks. That will blow up the household budget of millions of people, warns the Federal Consumer Association.
What you can do: Tenants should now set aside a monthly sum for the utility bill in the fall. You should be guided by the additional payment from the previous year and add about 30 percent. Tenants should set aside ten percent of this amount each month.
The sharp rise in energy prices is a source of discussion between tenants and landlords.
In order to be able to pay oil, gas and district heating bills, the first landlords are now already pushing for higher monthly advance payments in the current accounting year, according to the German Tenants’ Association. The desire for higher discounts is being asked more and more often by tenants.
“The landlord can increase the sum of the monthly advance payments if the tenant is threatened with a hefty back payment due to the increased heating costs,” agrees Volker Rastätter from the Munich Tenants’ Association. This increases the rent including heating, because this is made up of the fixed rent and the advance payments. The landlord bases the amount of the advance payment on the current prices and consumption. It is not clear in advance whether the tenant heats a lot or uses a lot of water.
Overall, the wave of inflation will ensure higher rents in the longer term. All apartments with an index rent would now be directly affected. The amount is based on consumer prices. If the last increase was at least a year ago, it could now be more expensive for tenants.
Apartments that are linked to the locally applicable rent index would also be indirectly affected. “In Munich, for example, there will be a new rent index in spring 2023. Inflation could lead to an additional increase here. That cannot be ruled out,” says Raststätter.
With a graduated rent, the increase is firmly anchored in the contract. An additional price increase that can be traced back to the current inflation wave is not permitted.
What you can do: Instead of increasing the advance payment, you can put a sum aside every month, which then flows into the utility bill. If the rent increases sharply, you should check whether you can cut expenses elsewhere. A subscription to the gym, for example, is only worthwhile if you train there regularly.
For the first time in over ten years, the European Central Bank intends to raise interest rates by 0.25 percentage points on July 21. It is possible that a further increase will take place in the autumn. While savers benefit from this, bank customers who are stuck in the overdraft facility must expect higher interest rates. Around 75 percent of Germans regularly slip into the red. You would then have to reckon with interest rates of up to 12 percent. On average, the overdraft interest is now around nine percent.
The dangerous thing about an overdraft facility is a lack of a repayment plan, which can lead to long-term debt.
You can do this: Take out an installment loan and use it to pay off the overdraft. With the installment loan, you usually halve the interest rate and have paid off the overdraft facility at a later date. Always pay attention to your monthly income and expenses.
The 9-euro ticket is still valid until the end of August. After that, individual tickets, group tickets or subscriptions to public transport could become more expensive. Ingo Wortmann, President of the Association of German Transport Companies (VDV), warned of higher prices after the three months in which the ticket is valid.
Bus and train companies have to calculate with higher costs. Because the federal government refuses to compensate for rising fuel prices, companies have to raise prices. All transport companies in Germany would be under pressure, and users would have to bear the costs.
“In the medium term, we will have to use the missing funds for fares or limit the offer,” added Wortmann. “The ticket prices will therefore continue to rise – not directly on September 1st, but in the next price rounds.” Price rounds usually take place in September, October and November.
This is how you can save: If you pay for your annual subscription in advance, you can use the bus and train at the old price. If a hefty price increase is imminent, the advance payment can be worthwhile. Then you can use local public transport at a reduced rate for a year.
Condition negotiations to supermarkets and manufacturers. The prices and conditions for the next few months are negotiated. The dates are particularly important for the food retail industry. If retailers and manufacturers do not agree, there will be gaps in the shelves. Although the negotiations are still pending, it is already known that brand manufacturers want to increase prices from autumn. Raw materials, transport and packaging have become more expensive during production, and customers have to put up with the increased production costs.
FOCUS Online says: Adjustments could be made from October, especially for butter, milk and meat. In the weeks before, the supply contracts with Aldi Süd and Aldi Nord are usually negotiated. Because other discounters and supermarkets are based on these prices, all price adjustments apply nationwide.
This is how you can save: Observe and compare prices in German retail stores. Buy special offers, use coupons and grab no-name items. Ideally, this can save you hundreds of euros a month.
Breweries and beverage manufacturers want to raise prices in autumn.
Beer, cola and spirits are becoming more expensive. In addition, a new minimum wage of 12 euros per hour will apply from October. The high food prices for meat, flour, cooking oil and vegetables also lead to adjustments. Because electricity, heating oil and gas are becoming more expensive at the same time, all of this has an overall impact on the prices on the menu. Restaurant operators then have to recalculate.
The veal schnitzel (“Wiener Schnitzel”) already costs more than 25 euros per portion in many places, and guests of a swimming pool pay well over four euros for one pair of red and white fries. There could be further adjustments in the fall.
Many municipalities, cities and municipalities are working flat out on new parking regulations. They make parking significantly more expensive. The best example is Berlin. In the third quarter, the price for the resident vignette will increase from ten to 120 euros per year. Parking in the city’s parking lots will then cost one euro more per hour.
In Munich, drivers will soon have to pay twice as high parking fees as before. The parking fees increase in all parking license areas from one to two euros per hour. The daily fee for parking climbs from 6 to 11 euros. In Stuttgart, prices have already risen. In the city area, resident parking costs 400 euros a year.
Private providers also charge more money for underground parking spaces, for example. The reason for this is the increased personnel costs.
This is how you can save: Ideally, residents’ parking permits should be renewed before the price increase or have them issued for a year. Often involves a processing fee, but can be worth it if the price increases hefty.
Supermarket prices are skyrocketing, but furniture, clothing, shoes and other consumer goods are also becoming more expensive. As a retail expert, I know the tricks of the trade and tell you how you can save money for you and your family every month when shopping. Would you like to talk to me about your savings tips and tricks? Did you notice anything while shopping? Then send an e-mail to Konstantinos.mitsis@burda-forward.de with your name and phone number
DHL will increase the prices for national parcel shipping from July 1st. Accordingly, the price advantage for parcel and parcel brands purchased online will no longer apply in the future. The branch prices for small and medium-sized parcels will also be adjusted. The price for a size S package has increased from EUR 3.79 to EUR 3.99.
In future, customers will have to pay EUR 4.79 instead of EUR 4.50 to send a size M parcel. But there is also a price reduction: the price for the “5 kilogram package most frequently used by private customers” will be reduced from the current EUR 7.49 to EUR 6.99.
Zara is also reacting to the increased delivery and transport costs. A return fee of 1.95 euros has appeared in the general terms and conditions for a few weeks now. “The cost of the return is 1.95 euros per package and will be deducted immediately from the amount to be refunded to you before the refund,” it says.
Zara is not an isolated case. The return fee applies to online orders. It is therefore possible that providers want to use it to cushion the increased delivery and personnel costs.
This is how you can save: try on clothes in the branches and buy them directly on site. Save you the return shipping fee. If the prices for shoes and clothes are currently too high for you: Second-hand shops often offer well-preserved clothes at low prices.
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