Nearly all toy, food retailers in Germany planning price hikes -Ifo
3:59 am Tuesday, November 29th, 2022
BERLIN (Reuters) – Nearly all toy, food and stationery retailers in Germany plan to raise their prices with a view to the Christmas shopping season, according to a survey on Tuesday.
Toy retailers’ price expectations in particular rose significantly in November, at 94.4 points, from 75.4 points the previous month, found the Ifo economic institute’s survey.
Food retailers, stationery stores, drugstores and clothing manufacturers also all came in above 90 points on the survey barometer, while in contrast, the paper industry fell into minus territory, indicating it is planning for falling sales prices.
The points indicate the percentage of companies that intend to increase prices on balance; if all companies surveyed intend to increase prices, the balance would be plus 100 points.
Overall, however, retail is planning fewer price increases, with the index at 50.6 points from 62.4 last month, said Ifo, which does not ask the amount of the planned price changes.
The manufacturing sector as well as service providers and the construction industry are also less likely to plan to raise their prices compared with the previous month, Ifo found.
(Reporting by Rene Wagner and Miranda Murray, editing by Rachel More)
