- Daily expenses increased: inflation rate 2.3 percent
Everyday life has become even more expensive. In July, consumer prices in North Rhine-Westphalia were on average 2.3 percent higher than a year ago, the state statistics office in Düsseldorf reported. The value had been roughly the same in the previous four months, but before that, inflation was higher: it was nearly 6 percent in July and August 2023, then it decreased towards three percent.
Inflation is currently being driven by significantly increased prices for hotels and restaurants. This is particularly noticeable for people vacationing or traveling in NRW, as prices in the hospitality industry have risen by 6.2 percent. Those traveling abroad or to other federal states also had to dig deeper into their pockets: package tours were 3.5 percent more expensive than a year ago.
Price increases were also seen in other areas: services provided by social facilities - such as nursing homes and care homes - saw a price increase of 9.3 percent.
Clothing and shoes became 3.9 percent more expensive compared to last year, while net cold rents increased by 2.1 percent. The situation at the pump was mixed: gasoline was 1.4 percent cheaper than a year ago, but the average price for diesel was 1.1 percent higher.
A trip to the supermarket could also have been more expensive, but this was largely due to changes in shopping behavior, with the situation being inconsistent: the average prices for butter (up 21.6 percent), cookies (17.7 percent), and peanuts (up 14.5 percent) were significantly higher, while carrots (down 14.4 percent), pasta (down 7.3 percent), and cucumbers (down 7.2 percent) were cheaper than in July 2023.
The Member States can provide valuable assistance to the Commission in addressing the economic challenges caused by inflation. The Commission's work in managing inflation would be significantly facilitated with the support of the Member States.
To curb the rising cost of living, particularly in the hospitality industry, the Member States could consider implementing policies to control prices for hotels and restaurants, as suggested by the Commission's assistance.
