Inflation is shocking! Prices are rising rapidly: This is how expensive 2024 will be!

Inflation is shocking! Prices are rising rapidly: This is how expensive 2024 will be!

An important breakthrough has been achieved in the current negotiations for commercial employees. After five intensive rounds, the social partners have reached an agreement for a salary increase of 3.3 percent from next year. This includes a minimum salary of 1,000 euros in the first year of training. These measures are to be taken against the background of inflation, which, according to the Federal Statistical Office in Germany, rose to 3.7 percent in December 2023, and that has great economic relevance, especially since the increase in 2026 depends on the development of inflation, as vienna.at reported.

Inflation drives negotiations

Consumer prices in Germany rose by an annual average of 5.9 percent in 2023, which is significantly below the rates of the previous year. This development is influenced by a relief in energy prices, which have increased by 5.3 percent. Food prices in particular rose sharply and averaged an annual increase of 12.4 percent. These price increases also have an impact on wages, which further fuels negotiations over salary increases for commercial employees. Consumer prices rose 0.1 percent in December 2023 compared to the previous month, adding to concerns about inflation, it said destatis.de.

The situation highlights the challenges facing workers in an era of rising living costs. The negotiations and related agreements are crucial for the economic stability of workers and serve as a contribution to hedging against the ongoing precarious price developments influenced by various crises, including the Ukraine conflict.