Posted on 04/03/2022 11:18:18 AM PDT by blam
Just days after Germany reported the highest inflation in generation (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…
… on Monday, 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 Reuters reporting that prices at German retail chains will explode between 20 and 50%!
Even before the outbreak of war in Ukraine, prices had risen by about five per cent “across the product range” as a result of increased energy prices, HDE President Josef Sanktjohanser told the Neue Osnabrücker Zeitung on Friday. 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, cited by The Local.
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.
“Since the start of the Ukraine war, there have been jumps in purchase prices that we have not experienced before,” a spokesperson for Aldi Nord announced on Friday.
A fortnight ago, Aldi raised the prices of about 160 items, and a week later 20 more items became more expensive. Other supermarket brands quickly followed suit.
In February, Germany’s cost of living rose at the highest level since reunification, with everyday goods increasing by an average of 7.3%. The federal statistics agency Destatis said the jump from January’s figure of 5.1 percent to February’s 7.3 percent reflected the impact of Russia’s invasion of Ukraine, which has sent the price of oil and gas soaring.
According to a recently published survey by the Ifo Institute, almost all companies in Germany’s food retail sector are planning price increases.
Though price increases are a worry for Germany’s hard-hit consumers, industry experts don’t expect there to be a lack of products on the shelves anytime soon. Which, of course, is to be expected when prices surge so high far fewer can afford to buy products.
According to Joachim Rukwied, president of the farming association, the food supply in Germany is assured for at least another year – though after this the forecasts are less certain. With rumors of shortages swirling around, however, supermarket owners have been complaining of the sort of panic-buying not seen since the first months of pandemic.
As previously noted, German supermarkets have even started limiting the purchase of cooking oils and flour in particular to prevent a mad rush to stock up on items that customers believe will run out. In other words, limit the sale of those products which are in highest demand, also known as a “brilliant strategy.”
And now that everyday food product prices are about to surge as much as 50%, it will be interesting to watch how much longer the German population will condone a NATO stance that has been seeking to stoke and perpetuate the war in Ukraine.
The NEW real Germans don’t care. They get all their food for free thanks to Hans’ and Fritz’s tax dollars. You can’t expect a Somali or Afghan to feed themselves as they deficate all over your country.
We have a new Aldi’s just opened in our area 3-4 weeks ago. I’ve never been to one....I suppose I’ll check it out next week.
I bought an $.89 bag of salad at just about every week. Last Nov or Dec it went to $1.19. That’s when I had a new roof installed that I wasn’t planning on until this year.
They are playing with fire.
It’s not a bad place. The wife buys her wine there...half the price as at Sam’s Club. You have to be careful though. The brands they sell use packaging that is almost identical to the national brand products, so you could almost think you’re buying the national brand. Seriously though...we’re gonna start going there.
spam is good
************
we’ve been canning
Well, it serves the Germans right! They bought into all that silly green stuff, and shut down some of their power plants, so this is how the herd gets culled out.
Bought 20 lbs of Basmati at Bjs...It'll last a loooooog time.
I'm 78 too.
Here's where I take the dogs every morning for my exercise. That first picture is a cotton crop looking outside the park. The farmer rotates cotton, corn and peanuts.
My closest grocery store is 15 miles away.
Spam: Only in an emergency or if you’re in the Army! ;)
In all honesty, I LOVE it fried with eggs for breakfast and it’s half-way decent in a stir-fry. I like the Turkey variety.
It’s just salty, fat-laden goodness to keep you alive and ready to fight when the Zombies leave the cities and head out to the countryside.
*SMIRK*
I’ll keep working on him; I think a mini Jersey would serve both of our families well. ;)
Come on! How HARD can this be? I’m here ALL THE TIME, as it is! He’s the one that goes off hunting and fishing from Spring through Fall!
Is it too much to ask for a little bovine companionship? I think not! ;)
In another lifetime, I had three teen boys to feed, myself, my ex and his brother who was ALWAYS there for meals, 99% of the time. (It was cool; I liked him.)
Aldi, my garden and my flock of laying hens were the Saving Grace at the time to keep us all fed.
And, the boys KNEW not to TOUCH the ‘Aldi Quarter’ I kept in the car ashtray, no matter HOW tempting it was for arcade video games back then, LOL!
“We had friends in and … we opened a tin of Spam luncheon meat. We had some lettuce and tomatoes and peaches, so it was Spam and salad.” And Soviet leader Nikita Khrushchev wrote in his autobiography, “Without Spam, we wouldn’t have been able to feed our army.”
LOL!
AMEN! I am vindicated! :)
+1 for the “Aldi Quarter”.
Just replaced mine today...
I'm going to Aldi's for the first time this Wednesday. What are you talking about with the quarter?
Aldis uses a lock on their shopping carts that you insert a quarter into to unlock it. Then after you’re done, you lock the cart back up, and it gives you your quarter back.
(Since it’s your first time: Be aware that Aldis doesn’t bag your groceries for you. They don’t even offer free shopping bags, although they usually have some you can buy. Best to bring your own bags.)
Good things to know ahead of time.
Also,
get ready for sticker shock in a good way.
Where I live, boneless, skinless chicken breasts at Costco are $3.99/lb.
At Aldi’s they’re $1.99 and $1.89 on sale.
And grass-fed hamburger (on sale) is $17.96 for 4-lb (in 3 “squares” of 1.33 lb each).
For produce, Aldis is cheaper than, or at most a couple of cents per pound more, than either Costco or Wal-Mart.
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