Inflation: Union demands countermeasures from politics

Released on 02.10. 2021

  • Michael Vassiliadis, Chairman of IG BCE, recorded before the start of a works meeting. Photo: Monika Skolimowska

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Inflation in Germany has increased for the first time since 28 crossed the four percent mark again in years. Union leader Michael Vassiliadis calls on the new government to take decisive action.

Berlin / Hanover (dpa) – The head of the mining, chemical and energy union, Michael Vassiliadis, has demanded countermeasures from politics in view of rising inflation.

Vassiliadis said of the German Press Agency: “In Germany and Europe we are experiencing a surge in energy prices on a scale that has not been seen for a long time. A new government is needed now so that politicians can take decisive countermeasures. At the moment, both the social and the economic risks are growing daily. ”

According to Vassiliadis, politicians hold the levers to relieve the people themselves. More than half of the electricity price is accounted for by state taxes and surcharges.

For the first time since just under 28 years, inflation in Germany exceeded the four percent mark again. Fueled above all by higher energy costs, consumer prices rose by 4.1 percent in September compared to the same month last year, according to initial calculations by the Federal Statistical Office.

Vassiliadis continued: «There is no question that inflation must also be reflected in future wage developments. Because in view of the zero interest rates, the cost of the savings is accompanied by a drastic devaluation of the savings. We as IG BCE will not stand idly by as inflation eats up the hard-earned money of the employees in our industries. ”

At the end of November, the IG-BCE board’s recommendation for the Bargaining round in the chemical and pharmaceutical industry with its around 580. 000 employees.

Higher inflation weakens the purchasing power of consumers because they can then buy less for one euro than before. From the point of view of economists, inflation is likely to weaken again in the coming year.

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