Energy crisis and inflation biggest concerns for Germans

BERLIN

Germans are increasingly worried about a deepening energy crisis and rising inflation, according to a new survey released on Thursday.

Moscow's war on Ukraine in late February, and a subsequent drop in oil and natural gas exports to Europe, have pushed prices higher.

At 68%, energy supply is currently the number one concern in Germany, followed by inflation at 64%, and the war at 55%.

According to the Civey poll for life insurer Canada Life, a majority of Germans expect a high average inflation rate in the coming year.

As many as 44% of respondents see it at 9% or even higher, while a rate between 7% and below 9% is expected by 20% of the respondents. Only 9% of the people believe in a rate of 3% to below 5%.

The inflation rate in Germany, the change in the consumer price index (CPI) compared with the same month of the previous year, was 7.9% in August, according to the Federal Statistical Office. It was 7.5% in July and 7.6% in June.

According to the survey, inflation is unsettling people, with nearly half of the respondents – 48% – saying they could save “nothing.”

A total of 2,500 respondents were surveyed between Sept. 8 and Sept. 12.