Logo

Germany Today

German news in English

Friday, November 22, 2024

German Families Hit Hardest by Inflation, Study Shows

Published: 2024-07-18

A recent study by the Hans-Böckler Foundation reveals that middle-income families in Germany have been disproportionately affected by inflation, despite government efforts to mitigate its impact.

While singles and childless couples have seen their purchasing power increase since 2021, families with average incomes have experienced a decline.

The study found that a family with two working parents earning €58,990 annually lost €492 in purchasing power.

In contrast, high-income families and low-income individuals benefited from government measures.

Experts criticize this 'social imbalance' and suggest a more substantial increase in child benefits to support affected families.