The Conservative Cave
Current Events => Economics => Topic started by: Ptarmigan on April 05, 2022, 07:46:00 PM
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Germany on the Brink of Food Crisis as Prices Increase by 20–50%
https://neonnettle.com/news/18731-germany-on-the-brink-of-food-crisis-as-prices-increase-by-20-50-
German is steeping toward the return of the dreaded Weimar hyperinflation as consumers brace themselves for massive price hikes for everyday goods and groceries at a whopping 20 to 50% rise.
Even before the war in Ukraine, prices soared by five percent “across the product range” due to increased energy prices, HDE President Josef Sanktjohanser warned on Friday.
Russia’s invasion is now pummeling economies and the supply chain as more price increases are 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.
Food prices have risen considerably in Germany.
Last week, the CEO of Germany’s multinational BASF SE warned that cutting off energy imports from Russia would result in pushing Germany into its most “catastrophic” economic crisis since World War 2.
“To put it bluntly: This could bring the German economy into its worst crisis since the end of the Second World War and destroy our prosperity.”
“For many small and medium-sized companies, in particular, it could mean the end.”
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Who is economically sanctioning whom? I don't run a country and saw this coming from 100 km away.