Germany has fallen into the grip of hyperinflation and officials are warning citizens that they need to prepare for spikes in food prices.
The European powerhouse has reached the highest inflation in a generation, with the country hitting 7.6 percent – just before Russia moved into Ukraine. Germany’s grocery providers have announced another tidal wave of rising prices.
The German Retail Association (HDE) warns that food prices may increase anywhere from 20 to 50 percent, affecting grocery store chains like Aldi, Edeka and Globus.
Energy prices had already pushed up food costs “across the product range” by 5 percent before the Russian invasion began.
According to HDE President Josef Sanktjohanser, after the invasion, the supply chain took an even bigger hit, telling The Local, “The second wave of price increases is coming, and it will certainly be in double figures,”
“We will soon be able to see the impact of the war reflected in price labels across all the supermarkets.”
Meat and butter will be “significantly more expensive” according to Aldi, due the price rises from suppliers.
“Since the start of the Ukraine war, there have been jumps in purchase prices that we have not experienced before,” a spokesman for Aldi Nord announced.
Living costs in Germany have risen across the board and are at its highest level since reunification. Everyday goods increased from 5.1 percent to 7.3 percent, Russia of course, taking the blame.
Industry insiders have said that they don’t expect any food shortages, any time soon – as rising costs will put a big wet blanket on demand.
President of Germany’s farming association, Joachim Rukwied had previously stated that the country was good for at least a year in regards to food supply.
Zero Hedge reported:
“With rumors of shortages swirling around … supermarket owners have been complaining of the sort of panic-buying not seen since the first months of pandemic,”
“As previously noted, German supermarkets have even started limiting the purchase of cooking oils and flour in particular to prevent a mad rush to stock up on items that customers believe will run out. In other words, limit the sale of those products which are in highest demand, also known as a ‘brilliant strategy.’”
It’s obvious at this point that the sanctions imposed on Russia are doing far more harm to those imposing them, than they are for Putin.
Since the sanctions began, Russia has been forced to move toward a more independent way of functioning, and pulled an Ace out of its sleeve when they announced that Russian gas and oil must be paid for with rubles or gold.
The sanctions have instead plunged the western world into chaos and as supplies start to dwindle from store shelves, the riots will begin.
People will become more and more desperate and the fast pace of western nation’s decline is, at the very least, alarming.