Inflation ‘eats up’ German savings – study ...News

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Inflation ‘eats up’ German savings – study
Funds set aside during the Covid-19 lockdowns have now melted away due to rising prices, IFO researchers say Inflation has largely depleted the savings Germans managed to accumulate over the past two years, a report from Munich-based IFO Economic Institute published on Tuesday shows. According to the report, German “private households put aside a lot of money during the two [Covid-19] years,” as disposable incomes were stabilized by extensive government support, while opportunities for consumption were severely restricted. Estimates show the savings rate averaged 15.5% in 2020 and 2021, significantly higher than i

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