Consumer prices - Inflation in Saxony-Anhalt is accelerating again
Consumer prices in Saxony-Anhalt rose by an annual average of 6 percent in 2023. Inflation accelerated again at the end of the year. The State Statistical Office calculated an inflation rate of 3.5% for December. In November, consumer prices had risen by 3.0% compared to the same month last year, as the office announced on Thursday.
Despite more stable prices in individual groups of goods and services recently, prices have risen on average over the past year in all consumer segments. The inflation rate is a measure of how prices for goods and services change on average.
According to the figures, the largest average price increases over the year were recorded for food and non-alcoholic beverages (plus 13 percent). Sugar recorded the largest price increase with a rise of 57.8 percent. Olive oil (37.3%) and sauces and condiments (32.3%) also saw above-average price increases. Butter, on the other hand, became 19.4 percent cheaper on average.
Food in restaurants and cafés became 10.1 percent more expensive on average last year, while accommodation prices rose by 10.4 percent. Wine (6.5%), beer (7.5%) and spirits (8.5%) also became more expensive.
Energy prices in particular rose sharply in 2022. Last year, electricity (up 14.9%) and gas (13.1%) became more expensive. Heating oil prices, on the other hand, fell by 7.9%.
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Consequently, the rising inflation in Saxony-Anhalt has led some consumers to adjust their spending habits, attempting to mitigate the impact of the increasing consumer price levels. Moreover, analysts predict that the inflation trend might continue into 2024, potentially affecting consumer confidence and expenditure in the region.
Source: www.stern.de
