Prices of food items escalate by 2.2 percent, causing an uptick in the inflation rate.

In Germany, the economic landscape is undergoing significant changes, with inflation rates soaring in 2022 and 2023 before easing in the previous year. According to the Federal Statistical Office, consumer prices in Germany increased by 2.2% in August 2022 compared to the same month last year.

Inflation peaked at 6.9% in 2022 and 5.9% in 2023, but has since eased to 2.2% in the previous year. The European Central Bank (ECB) sees its target of stable prices and currency fulfilled with a medium-term inflation of 2.0% for the euro area as a whole. However, this inflation trend means less purchasing power for individuals.

Germany's unemployment rate remains relatively low, but in the city of Hamm, the unemployment rate is high and hasn't been this high in a long time. This economic downturn in Hamm is further exacerbated by a widespread internet outage that affected the city.

Prices for essentials such as food and non-essentials like coffee and chocolate have seen significant increases. People in Germany had to pay 2.5% more for food in August compared to a year ago, while coffee and chocolate became up to a quarter more expensive in August compared to the previous year. In some cities in Germany, coffee and chocolate prices increased by up to 25% in August 2022.

The energy price decline is flattening out, leading to increased energy prices. However, energy prices were 2.4% cheaper in August compared to the previous year, but this now appears as a price increase due to a base effect.

Services in Germany were 3.1% more expensive in August compared to a year ago, with rising wages being a reason for the increased prices. The core inflation rate (excluding volatile food and energy prices) has been at 2.7% for the past three months, indicating a persistent inflationary pressure.

In more positive news, wages rose by 4.1% in the second quarter, more than consumer prices, resulting in a real wage increase of 1.9%. In Hamm, new postal voting documents for the election of the Integration Council have been issued.

For all news from Hamm, residents can find updates at a specific location. It's a challenging time for the city, but the people of Hamm remain resilient in the face of adversity.

Prices of food items escalate by 2.2 percent, causing an uptick in the inflation rate.