Back to school will be expensive

Not only gasoline, heating and food are becoming significantly more expensive in Germany, but also school attendance: In July, parents had to spend significantly more on school supplies than last year. Notebooks and drawing pads cost an average of 13.6% more, according to the Federal Statistical Office. Prices have thus increased even more than the overall cost of living, which has increased by 7.5% over the same period. “Reasons for the sharp increase in the prices of notebooks and drawing pads are likely to include continued paper shortages and rising paper production costs,” the statisticians said.

However, the surtax for other school supplies was lower. For example, parents had to pay 5.2% more for pens and ink trays as well as fountain pens and fountain pen cartridges than in July 2021. The price of school bags increased by 4, 7%.

German consumers have been moaning under rising prices for months. The cost of living rose 7.5% in July and 7.6% in June, after expensive energy pushed inflation to its highest level in nearly 50 years at 7.9% in may. The government rebate on fuel and the nine-euro local transport ticket have recently brought some relief, but economists believe double-digit inflation rates are possible in the fall due to the sharp rise in fuel prices. gas and the new gas tax.

Low-income families, in particular, suffer from high inflation. While baskets of goods for German households as a whole became 7.5% more expensive in July compared to the same month last year, low-income families had to pay up to 8.4% of more for their usual purchases. This is the conclusion of the Institute for Macroeconomic Policy (IMK) of the Hans Böckler Foundation, close to the unions. According to the study, single people with high incomes were the least affected by the price increases. Their cost of living has increased by 6.4%.

According to the IMK, the fact that low-income households are particularly affected by inflation is explained by the fact that today’s main price drivers – household energy and food – play a particularly important role in their expenses. IMK economic experts have warned: “If inflation receives an additional boost in the near future because the 9 euro note and the fuel discount expire and the petrol tax is introduced, the social gap in charges is likely to widen even more.” Further increases in household energy prices would have a particularly strong impact on low-income households.

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