Germany Heads Towards Weimar Hyperinflation: Food Prices Increasing 20-50%

[G.L.R.]

German Retailers To Increase Food Prices By 20-50% On Monday

Apr 04, 2022

Just days after Germany reported the highest inflation in generations (with February headline CPI soaring at a 7.6% annual pace and blowing away all expectations), giving locals a distinctly unpleasant deja vu feeling even before the Russian invasion of Ukraine broke what few supply chains remained and sent prices even higher into the stratosphere...Germany will take one step toward a return of the dreaded Weimar hyperinflation, when according to the German Retail Association (HDE), consumers should prepare for another wave of price hikes for everyday goods and groceries with... prices at German retail chains will explode between 20 and 50%: GERMAN RETAIL CHAINS TO INCREASE FOOD PRICES BY 20-50% FROM MONDAY.

With Russia's invasion hitting economies and the supply chain harder, yet another series of price increases is on the horizon. "The second wave of price increases is coming, and it will certainly be in double figures," Sanktjohanser warned. According to the president of the trade association, the first retail chains have already started to raise their prices in Germany – and the rest are likely to follow. "We will soon be able to see the impact of the war reflected in price labels across all the supermarkets," said Sanktjohanser. Recently, popular retail chains such as Aldi, Edeka and Globus announced that they would be forced to raise their prices. At Aldi, meat and butter will be "significantly more expensive" from Monday due to price hikes from its suppliers.

German Retailers To Increase Food Prices By 20-50% On Monday | ZeroHedge
https://www.zerohedge.com/markets/german-retailers-increase-food-prices-20-50-monday